Pangaea Logistics Solutions (NASDAQ:PANL) Lifted to "Buy" at StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

PANL opened at $6.37 on Thursday. The firm has a 50 day moving average price of $6.65 and a 200-day moving average price of $7.14. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $298.77 million, a price-to-earnings ratio of 8.38 and a beta of 0.86. Pangaea Logistics Solutions has a twelve month low of $5.74 and a twelve month high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly 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). The firm had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same quarter in the previous year, the company earned $0.10 earnings per share. Equities research analysts forecast that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC raised its stake in Pangaea Logistics Solutions by 8.4% during the third quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company's stock valued at $263,000 after purchasing an additional 2,830 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Pangaea Logistics Solutions in the 2nd quarter worth about $270,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pangaea Logistics Solutions in the 2nd quarter worth about $58,000. Algert Global LLC increased its stake in Pangaea Logistics Solutions by 20.1% in the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company's stock worth $143,000 after buying an additional 3,044 shares during the period. Finally, Mackenzie Financial Corp bought a new position in Pangaea Logistics Solutions during the 2nd quarter worth about $110,000. Institutional investors own 60.23% of the company's stock.

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.

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