Pangaea Logistics Solutions (NASDAQ:PANL) Shares Pass Above 50 Day Moving Average - Time to Sell?

Key Points

• Pangaea Logistics Solutions shares have recently traded above their 50-day moving average of $5.00, reaching as high as $5.40.
• Research firms have adjusted their ratings, with B. Riley lowering the target price from $11.00 to $9.00, while one analyst upgraded the stock from a "sell" to a "hold" rating.
• The company is set to pay a quarterly dividend of $0.05 per share on September 15th, which translates to a 3.7% annualized yield.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.00 and traded as high as $5.40. Pangaea Logistics Solutions shares last traded at $5.38, with a volume of 230,395 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PANL. B. Riley reduced their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating for the company in a report on Monday, August 11th. Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Up 2.7%

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.15. The company has a fifty day moving average of $5.00 and a 200-day moving average of $4.78. The firm has a market capitalization of $350.99 million, a PE ratio of 24.46 and a beta of 0.77.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 business had revenue of $156.69 million during the quarter, compared to analyst estimates of $129.24 million. On average, sell-side analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 2nd. Pangaea Logistics Solutions's dividend payout ratio (DPR) is currently 90.91%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of 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 acquiring an additional 4,825 shares in the last quarter. Tidal Investments LLC raised its holdings in Pangaea Logistics Solutions by 54.7% during the second quarter. Tidal Investments LLC now owns 28,149 shares of the shipping company's stock valued at $132,000 after buying an additional 9,953 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Pangaea Logistics Solutions by 4.3% during 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. Cable Car Capital LP raised its holdings in Pangaea Logistics Solutions by 2.1% during 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. Finally, Jane Street Group LLC raised its holdings in Pangaea Logistics Solutions by 231.2% during the second quarter. Jane Street Group LLC now owns 62,799 shares of the shipping company's stock valued at $295,000 after buying an additional 43,838 shares in the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

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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