Pangaea Logistics Solutions' (PANL) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Pangaea Logistics Solutions (PANL) received a "hold (c)" rating reaffirmed by Weiss Ratings, following a series of other mixed evaluations, including an upgrade from "sell" to "hold" by Wall Street Zen.
• The company's last earnings report revealed a profit of ($0.02) EPS, exceeding analysts' expectations, while revenue also surpassed predictions at $156.69 million for the quarter.
• Pangaea has a market cap of $320.98 million, with an average stock price target set at $9.00, indicating a consensus rating of "Moderate Buy" among analysts.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

PANL has been the topic of a number of other reports. Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley cut their price objective 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Pangaea Logistics Solutions Trading Down 1.6%

NASDAQ PANL opened at $4.92 on Wednesday. The company has a market cap of $320.98 million, a price-to-earnings ratio of 22.36 and a beta of 0.72. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $6.83. The business has a 50 day moving average price of $5.20 and a 200-day moving average price of $4.82. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its earnings results on Thursday, August 7th. The shipping company reported ($0.02) earnings per share (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 analysts' expectations of $129.24 million. As a group, equities analysts expect that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in 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 during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $59,000. J.W. Cole Advisors Inc. purchased a new stake in Pangaea Logistics Solutions during the second quarter worth $65,000. Wealth Enhancement Advisory Services LLC lifted 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 worth $88,000 after buying an additional 2,551 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $102,000 after buying an additional 3,344 shares during the period. 60.23% of the stock is owned by 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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