StockNews.com Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to “Hold”

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $5.24 on Tuesday. The firm has a fifty day moving average of $5.27 and a 200-day moving average of $5.79. The company has a market cap of $343.89 million, a price-to-earnings ratio of 11.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a 1 year low of $4.69 and a 1 year high of $8.32.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Pangaea Logistics Solutions by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock valued at $8,559,000 after acquiring an additional 105,200 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Pangaea Logistics Solutions by 220.2% during the fourth quarter. Mackenzie Financial Corp now owns 63,727 shares of the shipping company’s stock valued at $342,000 after purchasing an additional 43,823 shares during the period. PharVision Advisers LLC bought a new stake in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $300,000. Jacobs Levy Equity Management Inc. acquired a new stake in Pangaea Logistics Solutions in the fourth quarter worth about $59,000. Finally, Deutsche Bank AG bought a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $153,000. Institutional investors own 60.23% of the company’s stock.

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.