Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.11 and traded as low as $6.17. Pangaea Logistics Solutions shares last traded at $6.18, with a volume of 151,472 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Pangaea Logistics Solutions Trading Down 3.7 %

The company’s 50-day moving average is $6.60 and its 200-day moving average is $7.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. The firm has a market cap of $289.84 million, a price-to-earnings ratio of 7.92 and a beta of 0.87.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share 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 company had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, research analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.76 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 6.47%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 51.28%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANL. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pangaea Logistics Solutions during the 2nd quarter worth $58,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions during the first quarter worth $61,000. Mackenzie Financial Corp bought a new stake in Pangaea Logistics Solutions in the second quarter valued at about $110,000. Wealth Enhancement Advisory Services LLC acquired a new position in Pangaea Logistics Solutions in the third quarter valued at about $113,000. Finally, Hillsdale Investment Management Inc. bought a new position in Pangaea Logistics Solutions during the first quarter worth about $114,000. 60.23% of the stock is owned by institutional investors.

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.