Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by Wall Street Zen

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Pangaea Logistics Solutions Price Performance

NASDAQ:PANL traded up $0.07 during mid-day trading on Friday, reaching $5.05. 193,424 shares of the company were exchanged, compared to its average volume of 216,417. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $7.50. The company has a fifty day moving average of $4.77 and a 200 day moving average of $4.85. The company has a quick ratio of 1.28, a current ratio of 1.61 and a debt-to-equity ratio of 0.73. The stock has a market cap of $331.38 million, a PE ratio of 14.85 and a beta of 0.69.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.12. Pangaea Logistics Solutions had a net margin of 2.75% and a return on equity of 4.97%. The firm had revenue of $122.80 million for the quarter, compared to analyst estimates of $130.37 million. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, research analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Pangaea Logistics Solutions by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company's stock valued at $1,112,000 after acquiring an additional 14,357 shares during the period. Empowered Funds LLC raised its holdings in Pangaea Logistics Solutions by 7.3% during the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company's stock worth $1,818,000 after buying an additional 25,851 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 3,344 shares during the period. Bridgeway Capital Management LLC raised its holdings in Pangaea Logistics Solutions by 4.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 678,219 shares of the shipping company's stock worth $3,228,000 after buying an additional 25,851 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in Pangaea Logistics Solutions during the 1st quarter worth approximately $195,000. 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.