Pangaea Logistics Solutions Ltd (NASDAQ:PANL) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 4,700 shares, a growth of 161.1% from the November 14th total of 1,800 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 15,400 shares, the days-to-cover ratio is currently 0.3 days.
Shares of PANL traded down $0.03 during trading hours on Wednesday, hitting $2.98. The stock had a trading volume of 21,139 shares, compared to its average volume of 20,046. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.28. The firm has a market cap of $132.47 million, a P/E ratio of 5.62 and a beta of 0.32. The company’s fifty day simple moving average is $3.14 and its 200 day simple moving average is $3.29. Pangaea Logistics Solutions has a 12-month low of $2.71 and a 12-month high of $4.35.
Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, November 7th. The shipping company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). The firm had revenue of $118.89 million during the quarter. Pangaea Logistics Solutions had a return on equity of 8.27% and a net margin of 4.03%. As a group, sell-side analysts predict that Pangaea Logistics Solutions will post 0.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Thursday, November 21st were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Wednesday, November 20th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 26.42%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP raised its position in shares of Pangaea Logistics Solutions by 36.4% in 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. Citadel Advisors LLC purchased a new position in shares of Pangaea Logistics Solutions in the 2nd quarter worth $35,000. BlackRock Inc. raised its position in shares of Pangaea Logistics Solutions by 132.5% in 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. Finally, WealthTrust Axiom LLC raised its position in shares of Pangaea Logistics Solutions by 57.1% in 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. 25.98% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on PANL shares. ValuEngine upgraded Pangaea Logistics Solutions from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. TheStreet cut Pangaea Logistics Solutions from a “b-” rating to a “c+” rating in a report on Friday, November 29th. Finally, Zacks Investment Research upgraded Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th.
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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