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

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a report issued on Thursday morning.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $6.65 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. Pangaea Logistics Solutions has a twelve month low of $6.00 and a twelve month high of $9.52. The company has a fifty day moving average of $6.58 and a 200-day moving average of $7.10. The firm has a market capitalization of $311.90 million, a P/E ratio of 8.53 and a beta of 0.87.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly 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 period last year, the firm posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pangaea Logistics Solutions in the 2nd quarter worth $58,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth about $61,000. Mackenzie Financial Corp acquired a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter worth about $110,000. Wealth Enhancement Advisory Services LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter valued at about $113,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Pangaea Logistics Solutions during the 1st quarter worth approximately $114,000. 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.