Pangaea Logistics Solutions (NASDAQ:PANL) Shares Pass Above 50 Day Moving Average - Here's What Happened

Key Points

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Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.95 and traded as high as $5.19. Pangaea Logistics Solutions shares last traded at $5.12, with a volume of 179,094 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PANL shares. Wall Street Zen raised Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley decreased their price target on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of "Buy" and a consensus price target of $9.00.

Pangaea Logistics Solutions Trading Up 5.0%

The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $4.97 and a 200 day moving average of $4.78. The company has a market cap of $345.12 million, a P/E ratio of 24.05 and a beta of 0.77.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its earnings results on Thursday, August 7th. The shipping company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%.The company had revenue of $156.69 million for the quarter, compared to analyst estimates of $129.24 million. On average, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 3.8%. Pangaea Logistics Solutions's dividend payout ratio is presently 90.91%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently made changes to their positions in PANL. Wealth Enhancement Advisory Services LLC boosted its holdings in Pangaea Logistics Solutions by 15.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company's stock worth $88,000 after acquiring an additional 2,551 shares in the last quarter. 683 Capital Management LLC boosted its holdings in Pangaea Logistics Solutions by 0.5% in the first quarter. 683 Capital Management LLC now owns 609,990 shares of the shipping company's stock worth $2,904,000 after acquiring an additional 2,843 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Pangaea Logistics Solutions by 2.1% in the first quarter. Victory Capital Management Inc. now owns 147,419 shares of the shipping company's stock worth $702,000 after acquiring an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company's stock worth $102,000 after acquiring an additional 3,344 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Pangaea Logistics Solutions by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock worth $99,000 after acquiring an additional 4,007 shares in the last quarter. 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.