Pangaea Logistics Solutions Ltd (NASDAQ:PANL) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 7,600 shares, a growth of 58.3% from the July 31st total of 4,800 shares. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.
PANL stock traded up $0.03 during trading on Friday, reaching $3.28. 1,218 shares of the stock were exchanged, compared to its average volume of 14,744. The firm’s 50 day moving average is $3.26 and its 200 day moving average is $3.37. Pangaea Logistics Solutions has a twelve month low of $2.71 and a twelve month high of $4.35. The company has a current ratio of 1.44, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The firm has a market cap of $144.47 million, a P/E ratio of 6.19 and a beta of 0.29.
Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Monday, August 12th. The shipping company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). Pangaea Logistics Solutions had a return on equity of 8.39% and a net margin of 4.28%. The firm had revenue of $83.29 million for the quarter, compared to analyst estimates of $109.72 million. During the same period last year, the company posted $0.13 earnings per share. As a group, analysts predict that Pangaea Logistics Solutions will post 0.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, August 23rd. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 26.42%.
Hedge funds have recently bought and sold shares of the stock. WealthTrust Axiom LLC raised its stake in Pangaea Logistics Solutions by 57.1% during the 2nd quarter. WealthTrust Axiom LLC now owns 22,000 shares of the shipping company’s stock worth $73,000 after buying an additional 8,000 shares during the period. BlackRock Inc. raised its stake in Pangaea Logistics Solutions by 132.5% during the 2nd quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock worth $188,000 after buying an additional 31,969 shares during the period. Citadel Advisors LLC acquired a new position in Pangaea Logistics Solutions during the 2nd quarter worth approximately $35,000. Finally, Susquehanna International Group LLP raised its stake in Pangaea Logistics Solutions by 36.4% during the 2nd quarter. Susquehanna International Group LLP now owns 19,327 shares of the shipping company’s stock worth $65,000 after buying an additional 5,153 shares during the period. 26.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine downgraded Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Noble Financial set a $6.00 price target on Pangaea Logistics Solutions and gave the stock a “buy” rating in a research note on Friday, May 17th.
About Pangaea Logistics Solutions
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
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