Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by StockNews.com

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

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL remained flat at $6.64 during midday trading on Thursday. The stock had a trading volume of 148,800 shares, compared to its average volume of 211,569. The firm has a market capitalization of $311.42 million, a PE ratio of 8.51 and a beta of 0.87. The stock’s fifty day moving average is $6.58 and its 200 day moving average is $7.10. Pangaea Logistics Solutions has a 12 month low of $5.86 and a 12 month 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.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share 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 company had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same quarter in the previous year, the business posted $0.10 EPS. As a group, analysts anticipate that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Pangaea Logistics Solutions by 6.4% during 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 during the period. AQR Capital Management LLC boosted its stake in Pangaea Logistics Solutions by 131.7% in the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after purchasing an additional 150,713 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Pangaea Logistics Solutions in the 2nd quarter valued at $270,000. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions in the 1st quarter valued at $61,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Pangaea Logistics Solutions by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock valued at $196,000 after purchasing an additional 9,352 shares during the period. 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.