Pangaea Logistics Solutions (NASDAQ:PANL) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.45 and traded as high as $6.89. Pangaea Logistics Solutions shares last traded at $6.88, with a volume of 114,939 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PANL. Zacks Research raised shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The firm has a market cap of $431.08 million, a price-to-earnings ratio of 22.12 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $6.49 and a 200-day moving average price of $5.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.14. The firm had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%. On average, analysts expect that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, December 1st. Pangaea Logistics Solutions’s payout ratio is 66.67%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position 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 worth $31,000 after purchasing an additional 2,864 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,825 shares in the last quarter. Algert Global LLC acquired a new position in Pangaea Logistics Solutions during the third quarter worth $53,000. Two Sigma Investments LP purchased a new position in Pangaea Logistics Solutions in the third quarter worth $63,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Pangaea Logistics Solutions in the second quarter valued at $65,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.