Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.68 and traded as high as $7.70. Pangaea Logistics Solutions shares last traded at $7.68, with a volume of 345,760 shares.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Trading Up 4.5%

The business’s 50 day simple moving average is $7.68 and its two-hundred day simple moving average is $7.64. The stock has a market cap of $502.39 million, a P/E ratio of 13.96 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. As a group, analysts expect that Pangaea Logistics Solutions Ltd. will post 0.71 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 1st. Pangaea Logistics Solutions’s payout ratio is 36.36%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Pangaea Logistics Solutions by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the period. LOM Asset Management Ltd acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of Pangaea Logistics Solutions by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after purchasing an additional 4,825 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth $53,000. Finally, Algert Global LLC acquired a new position in shares of Pangaea Logistics Solutions during the third quarter worth $53,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.