Wall Street Zen Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Strong-Buy

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

PANL has been the topic of a number of other reports. Weiss Ratings raised shares of Pangaea Logistics Solutions from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL opened at $8.19 on Friday. The firm has a market cap of $535.79 million, a P/E ratio of 14.89 and a beta of 0.81. 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 has a 12-month low of $4.23 and a 12-month high of $9.39. The business has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $7.38.

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

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Pangaea Logistics Solutions by 13.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after acquiring an additional 351,385 shares in the last quarter. Cable Car Capital LP lifted its stake in shares of Pangaea Logistics Solutions by 2.1% in the second quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after buying an additional 20,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Pangaea Logistics Solutions by 33.0% in the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after buying an additional 185,100 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Pangaea Logistics Solutions by 4.3% in the second quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock valued at $3,325,000 after buying an additional 29,260 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Pangaea Logistics Solutions by 1,846.9% in the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after buying an additional 416,439 shares in the last quarter. Institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

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.