Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• Pangaea Logistics Solutions (NASDAQ:PANL) shares crossed above their 50-day moving average of $5.16, reaching a high of $5.69 during trading.
• The company reported a quarterly EPS of ($0.02), exceeding analysts' expectations, along with revenues of $156.69 million, surpassed the estimates of $129.24 million.
• Pangaea recently announced a quarterly dividend of $0.05 per share, translating to an annual yield of 3.5%, with a high dividend payout ratio of 90.91%.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.16 and traded as high as $5.69. Pangaea Logistics Solutions shares last traded at $5.64, with a volume of 208,339 shares changing hands.

Analyst Ratings Changes

Several equities analysts have issued reports on PANL shares. B. Riley dropped their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Down 3.9%

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 market capitalization of $353.61 million, a PE ratio of 24.64 and a beta of 0.71. The firm has a 50-day moving average of $5.16 and a two-hundred day moving average of $4.81.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The shipping company reported ($0.02) 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 firm had revenue of $156.69 million for the quarter, compared to analyst estimates of $129.24 million. On average, equities research analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

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

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of large investors have recently added to or reduced their stakes in PANL. Tower Research Capital LLC TRC grew its holdings 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 in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Pangaea Logistics Solutions during the 1st quarter worth $59,000. J.W. Cole Advisors Inc. acquired a new position in Pangaea Logistics Solutions during the 2nd quarter worth $65,000. Wealth Enhancement Advisory Services LLC grew its holdings 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 acquiring an additional 2,551 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Pangaea Logistics Solutions by 18.6% during the 1st 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. 60.23% of the stock is 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.