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

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

Pangaea Logistics Solutions Stock Down 1.0 %

PANL opened at $6.63 on Wednesday. Pangaea Logistics Solutions has a twelve month low of $5.74 and a twelve month high of $9.52. The firm has a market cap of $310.96 million, a P/E ratio of 8.72 and a beta of 0.86. The business has a 50 day moving average price of $6.66 and a 200 day moving average price of $7.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results 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 business had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. During the same quarter last year, the firm earned $0.10 earnings per share. Research analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pangaea Logistics Solutions in the second quarter valued at $58,000. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions in the first quarter valued at $61,000. Mackenzie Financial Corp bought a new stake in Pangaea Logistics Solutions in the second quarter valued at $110,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Pangaea Logistics Solutions in the first quarter valued at $114,000. 60.23% of the stock is currently owned by institutional investors.

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.