Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.52 and traded as low as $6.68. Pangaea Logistics Solutions shares last traded at $6.74, with a volume of 402,469 shares trading hands.

Wall Street Analysts Forecast Growth

PANL has been the topic of a number of research reports. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Down 2.3%

The firm’s fifty day simple moving average is $7.52 and its two-hundred day simple moving average is $7.63. The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $440.93 million, a price-to-earnings ratio of 12.25 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. Sell-side analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.20 annualized dividend and a yield of 3.0%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $102,000 after buying an additional 3,344 shares during the period. Goldman Sachs Group Inc. lifted its position in Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after buying an additional 14,357 shares during the last quarter. Empowered Funds LLC lifted its position in Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock valued at $1,818,000 after buying an additional 25,851 shares during the last quarter. Finally, Creative Planning boosted its stake in Pangaea Logistics Solutions by 94.2% during the second quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after buying an additional 11,204 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

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.