Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to Hold at StockNews.com

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

Pangaea Logistics Solutions Trading Up 1.9 %

Shares of NASDAQ PANL traded up $0.12 during mid-day trading on Wednesday, hitting $6.34. 99,967 shares of the company traded hands, compared to its average volume of 225,166. 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 has a 1 year low of $5.42 and a 1 year high of $9.52. The stock has a market capitalization of $297.35 million, a price-to-earnings ratio of 8.34 and a beta of 0.85. The business has a 50 day moving average of $6.93 and a two-hundred day moving average of $7.30.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its 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 return on equity of 8.76% and a net margin of 7.02%. The firm had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $58,000. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions in the first quarter worth $61,000. Mackenzie Financial Corp bought a new position in Pangaea Logistics Solutions during the second quarter valued at about $110,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $114,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

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.