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

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

Pangaea Logistics Solutions Trading Up 0.9 %

PANL opened at $6.50 on Thursday. 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 stock’s fifty day moving average is $6.65 and its two-hundred day moving average is $7.14. The company has a market capitalization of $304.85 million, a P/E ratio of 8.33 and a beta of 0.86. Pangaea Logistics Solutions has a 52 week low of $5.74 and a 52 week high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) 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). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The firm had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $98.09 million. During the same quarter in the prior year, the business posted $0.10 EPS. Analysts forecast that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after acquiring an additional 112,298 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after buying an additional 150,713 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter valued at about $270,000. Lazard Asset Management LLC purchased a new position in shares of Pangaea Logistics Solutions in the 1st quarter worth approximately $61,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Pangaea Logistics Solutions by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock worth $196,000 after acquiring an additional 9,352 shares in the last quarter. Hedge funds and other 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.