Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday.
Pangaea Logistics Solutions Price Performance
Shares of NASDAQ:PANL traded up $0.07 during trading on Thursday, hitting $6.44. 150,576 shares of the stock were exchanged, compared to its average volume of 215,938. The company has a fifty day moving average price of $6.65 and a two-hundred day moving average price of $7.14. The company has a market cap of $302.05 million, a PE ratio of 8.38 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a 12-month low of $5.74 and a 12-month high of $9.52.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $131.50 million for the quarter, compared to analysts' expectations of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same period last year, the firm earned $0.10 EPS. On average, analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Pangaea Logistics Solutions by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company's stock worth $188,000 after purchasing an additional 1,514 shares during the last quarter. SG Americas Securities LLC raised its holdings in Pangaea Logistics Solutions by 3.0% in the 1st quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company's stock valued at $404,000 after acquiring an additional 1,672 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in Pangaea Logistics Solutions by 8.4% in the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company's stock valued at $263,000 after acquiring an additional 2,830 shares during the last quarter. Algert Global LLC raised its holdings in Pangaea Logistics Solutions by 20.1% in the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company's stock valued at $143,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Pangaea Logistics Solutions by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company's stock valued at $541,000 after acquiring an additional 6,125 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.
Pangaea Logistics Solutions Company Profile
(
Get Free Report)
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
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