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

Key Points

• Pangaea Logistics Solutions' stock price has fallen below its 50-day moving average of $5.20, trading at $4.92 with a significant volume of 170,953 shares.
• Wall Street analysts have mixed views, with B. Riley lowering its price target from $11.00 to $9.00 and maintains a "buy" rating, while Weiss Ratings holds a "hold" rating.
• The company recently declared a quarterly dividend of $0.05, resulting in an annualized dividend yield of 4.1% and a payout ratio of 90.91%.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report)'s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.20 and traded as low as $4.88. Pangaea Logistics Solutions shares last traded at $4.92, with a volume of 170,953 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PANL shares. B. Riley cut their price target on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Weiss Ratings restated a "hold (c)" rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of "Moderate Buy" and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The business's 50-day moving average price is $5.20 and its 200-day moving average price is $4.81. 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 stock has a market cap of $320.98 million, a PE ratio of 22.36 and a beta of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. The firm had revenue of $156.69 million for the quarter, compared to the consensus estimate of $129.24 million. As a group, equities research analysts expect 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 was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.1%. Pangaea Logistics Solutions's payout ratio is presently 90.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP grew its stake in shares of Pangaea Logistics Solutions by 21.5% during the first quarter. Royce & Associates LP now owns 1,166,677 shares of the shipping company's stock worth $5,553,000 after acquiring an additional 206,575 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Pangaea Logistics Solutions by 8.7% during the first quarter. American Century Companies Inc. now owns 1,008,916 shares of the shipping company's stock worth $4,802,000 after purchasing an additional 80,872 shares during the period. Cable Car Capital LP lifted its holdings in shares of 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 worth $4,632,000 after purchasing an additional 20,000 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of 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 worth $3,325,000 after purchasing an additional 29,260 shares during the period. Finally, 683 Capital Management LLC lifted its holdings in shares of Pangaea Logistics Solutions by 0.5% during the first quarter. 683 Capital Management LLC now owns 609,990 shares of the shipping company's stock worth $2,904,000 after purchasing an additional 2,843 shares during the period. Hedge funds and other institutional investors own 60.23% of the company's stock.

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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