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

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.21 and traded as high as $7.15. Pangaea Logistics Solutions shares last traded at $7.01, with a volume of 197,825 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PANL. Zacks Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Down 3.7%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62. The firm has a 50 day simple moving average of $6.24 and a two-hundred day simple moving average of $5.48. The stock has a market cap of $438.61 million, a P/E ratio of 22.50 and a beta of 0.78.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $168.67 million for the quarter, compared to analyst estimates of $159.32 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%. Equities research analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PANL. Nuveen LLC acquired a new position in shares of Pangaea Logistics Solutions during the 1st quarter valued at $539,000. Goldman Sachs Group Inc. boosted its stake in Pangaea Logistics Solutions by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after buying an additional 14,357 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Pangaea Logistics Solutions during the second quarter worth about $732,000. Walleye Capital LLC bought a new stake in Pangaea Logistics Solutions in the first quarter worth about $132,000. Finally, American Century Companies Inc. lifted its holdings in Pangaea Logistics Solutions by 8.7% in the 1st quarter. American Century Companies Inc. now owns 1,008,916 shares of the shipping company’s stock valued at $4,802,000 after acquiring an additional 80,872 shares during the last quarter. Institutional investors 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.