Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report)'s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.76 and traded as high as $5.24. Pangaea Logistics Solutions shares last traded at $5.02, with a volume of 188,213 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday.

Pangaea Logistics Solutions Stock Down 3.5%

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.61 and a quick ratio of 1.28. The stock has a market cap of $329.41 million, a price-to-earnings ratio of 14.77 and a beta of 0.69. The firm's fifty day moving average price is $4.76 and its two-hundred day moving average price is $4.86.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.12. The firm had revenue of $122.80 million for the quarter, compared to analysts' expectations of $130.37 million. Pangaea Logistics Solutions had a net margin of 2.75% and a return on equity of 4.97%. During the same quarter in the previous year, the company earned $0.14 earnings per share. Sell-side analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 3.98%. Pangaea Logistics Solutions's payout ratio is 58.82%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new stake in Pangaea Logistics Solutions during the first quarter worth approximately $59,000. Wealth Enhancement Advisory Services LLC increased its position in Pangaea Logistics Solutions by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company's stock worth $88,000 after purchasing an additional 2,551 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the 4th quarter valued at approximately $307,000. JPMorgan Chase & Co. increased its holdings in shares of Pangaea Logistics Solutions by 21.4% during the fourth quarter. JPMorgan Chase & Co. now owns 155,115 shares of the shipping company's stock valued at $831,000 after purchasing an additional 27,316 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Pangaea Logistics Solutions by 27.5% in the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company's stock valued at $173,000 after purchasing an additional 6,965 shares during the period. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.