Pangaea Logistics Solutions (NASDAQ:PANL) Trading Down 5.5% – Here’s Why

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) traded down 5.5% during mid-day trading on Thursday . The company traded as low as $7.68 and last traded at $7.6950. 449,523 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 647,929 shares. The stock had previously closed at $8.14.

Analyst Upgrades and Downgrades

PANL has been the topic of several analyst reports. Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Finally, Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Pangaea Logistics Solutions has an average rating of “Moderate Buy” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The stock’s 50-day moving average is $7.56 and its 200-day moving average is $7.56. The firm has a market capitalization of $504.72 million, a price-to-earnings ratio of 14.03 and a beta of 0.81. The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The business had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $165.79 million. On average, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.71 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

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

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in shares of Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 2,864 shares during the last quarter. LOM Asset Management Ltd purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 4,825 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Pangaea Logistics Solutions during the fourth quarter worth about $53,000. Finally, Algert Global LLC purchased a new stake in Pangaea Logistics Solutions during the third quarter worth about $53,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.