Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded to Hold at StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL opened at $5.04 on Tuesday. The firm has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.78. Pangaea Logistics Solutions has a 52 week low of $4.69 and a 52 week high of $8.32. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $330.77 million, a P/E ratio of 10.72 and a beta of 0.84.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC purchased a new position in shares of Pangaea Logistics Solutions in the 4th quarter worth approximately $3,254,000. Royce & Associates LP lifted its position in Pangaea Logistics Solutions by 24.0% in the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company’s stock worth $5,146,000 after buying an additional 185,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pangaea Logistics Solutions by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company’s stock worth $11,044,000 after buying an additional 105,965 shares during the period. Wellington Management Group LLP increased its position in Pangaea Logistics Solutions by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock valued at $8,559,000 after acquiring an additional 105,200 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Pangaea Logistics Solutions by 12.4% in the 4th quarter. American Century Companies Inc. now owns 928,044 shares of the shipping company’s stock worth $4,974,000 after acquiring an additional 102,653 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.