Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Below 50-Day Moving Average - Time to Sell?

Key Points

• Pangaea Logistics Solutions' stock (NASDAQ:PANL) has recently fallen below its 50-day moving average of $5.20, currently trading at $5.00.
• Wall Street analysts have mixed opinions, with one raising the stock rating to "hold," while B. Riley reduced its price target from $11.00 to $9.00.
• The company reported a quarterly earnings per share (EPS) of ($0.02), exceeding analyst expectations, and a dividend of $0.05 per share was recently paid out.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.20 and traded as low as $4.99. Pangaea Logistics Solutions shares last traded at $5.00, with a volume of 150,174 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PANL shares. Wall Street Zen raised shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. B. Riley reduced their price target on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Pangaea Logistics Solutions in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $9.00.

Pangaea Logistics Solutions Trading Down 1.4%

The firm has a market capitalization of $326.20 million, a PE ratio of 22.73 and a beta of 0.72. The stock's 50-day moving average price is $5.20 and its 200 day moving average price is $4.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.15.

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

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 4.0%. Pangaea Logistics Solutions's dividend payout ratio (DPR) is currently 90.91%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently made changes to their positions in PANL. Tower Research Capital LLC TRC increased its position in Pangaea Logistics Solutions by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company's stock valued at $43,000 after purchasing an additional 4,825 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Pangaea Logistics Solutions during the first quarter valued at approximately $59,000. J.W. Cole Advisors Inc. purchased a new position in Pangaea Logistics Solutions during the second quarter valued at approximately $65,000. Wealth Enhancement Advisory Services LLC increased its holdings in Pangaea Logistics Solutions by 15.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company's stock valued at $88,000 after buying an additional 2,551 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pangaea Logistics Solutions by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company's stock valued at $102,000 after buying an additional 3,344 shares during the period. 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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