Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Short Interest Down 18.0% in December

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 375,908 shares, a decrease of 18.0% from the December 15th total of 458,232 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.7% of the shares of the company are sold short.

Pangaea Logistics Solutions Trading Up 3.0%

Shares of PANL opened at $6.90 on Wednesday. The business has a 50-day moving average of $6.92 and a 200 day moving average of $5.76. Pangaea Logistics Solutions has a fifty-two week low of $3.93 and a fifty-two week high of $7.41. The firm has a market cap of $448.32 million, a P/E ratio of 23.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.03 by $0.14. The business had revenue of $168.67 million for the quarter, compared to the consensus estimate of $159.32 million. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. As a group, research analysts forecast that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.20 annualized dividend and a yield of 2.9%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 66.67%.

Analysts Set New Price Targets

PANL has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.00.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds have recently made changes to their positions in PANL. Alliancebernstein L.P. boosted its stake in shares of Pangaea Logistics Solutions by 7.0% in the third quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after acquiring an additional 2,300 shares during the period. BNP Paribas Financial Markets raised its stake in Pangaea Logistics Solutions by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 2,864 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after purchasing an additional 3,344 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after purchasing an additional 4,825 shares during the period. Finally, Tidal Investments LLC boosted its stake in Pangaea Logistics Solutions by 54.7% in the 2nd quarter. Tidal Investments LLC now owns 28,149 shares of the shipping company’s stock worth $132,000 after purchasing an additional 9,953 shares during the period. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.