Pangaea Logistics Solutions (NASDAQ:PANL) Lifted to Buy at StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.

Separately, Alliance Global Partners downgraded Pangaea Logistics Solutions from a "buy" rating to a "neutral" rating and set a $8.75 price objective on the stock. in a report on Monday, February 5th.

Pangaea Logistics Solutions Price Performance

PANL traded up $0.11 during midday trading on Thursday, hitting $6.75. The stock had a trading volume of 144,565 shares, compared to its average volume of 335,310. Pangaea Logistics Solutions has a 1 year low of $5.28 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 1.82. The business has a fifty day moving average of $7.76 and a 200 day moving average of $7.36. The company has a market cap of $315.36 million, a P/E ratio of 11.44 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.28). Pangaea Logistics Solutions had a net margin of 5.27% and a return on equity of 8.54%. The business had revenue of $131.88 million during the quarter, compared to analysts' expectations of $152.31 million. During the same period last year, the company posted $0.32 EPS. As a group, equities analysts forecast that Pangaea Logistics Solutions will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada purchased a new stake in shares of Pangaea Logistics Solutions during the second quarter worth about $26,000. Bank of America Corp DE lifted its holdings in Pangaea Logistics Solutions by 1,977.9% in the 1st quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company's stock worth $27,000 after buying an additional 4,569 shares during the period. Quarry LP bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter worth approximately $35,000. UBS Group AG increased its stake in shares of Pangaea Logistics Solutions by 67.6% during the second quarter. UBS Group AG now owns 7,466 shares of the shipping company's stock valued at $38,000 after buying an additional 3,012 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Pangaea Logistics Solutions during the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 60.23% of the company's stock.

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.

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