Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Buy at StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL opened at $6.37 on Thursday. The business has a fifty day simple moving average of $6.65 and a 200-day simple moving average of $7.14. Pangaea Logistics Solutions has a 52 week low of $5.74 and a 52 week high of $9.52. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The company has a market cap of $298.77 million, a P/E ratio of 8.38 and a beta of 0.86.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities research analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pangaea Logistics Solutions during the 2nd quarter valued at $58,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at about $61,000. Mackenzie Financial Corp acquired a new stake in Pangaea Logistics Solutions during the second quarter worth about $110,000. Hillsdale Investment Management Inc. acquired a new stake in Pangaea Logistics Solutions during the first quarter worth about $114,000. Finally, Algert Global LLC grew its position in Pangaea Logistics Solutions by 20.1% during the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after buying an additional 3,044 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

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.