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

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

Pangaea Logistics Solutions stock opened at $6.37 on Thursday. Pangaea Logistics Solutions has a fifty-two week low of $5.74 and a fifty-two week high of $9.52. The stock has a market cap of $298.77 million, a price-to-earnings ratio of 8.38 and a beta of 0.86. The stock's 50 day simple moving average is $6.65 and its two-hundred day simple moving average is $7.14. 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 - Get Free Report) last issued 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). The firm had revenue of $131.50 million during the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $0.10 earnings per share. As a group, analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd increased its holdings in Pangaea Logistics Solutions by 111.5% in the 4th quarter. Quadrature Capital Ltd now owns 38,937 shares of the shipping company's stock worth $321,000 after buying an additional 20,529 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pangaea Logistics Solutions by 14,653.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company's stock valued at $242,000 after acquiring an additional 34,436 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Pangaea Logistics Solutions in the first quarter worth approximately $157,000. BNP Paribas Financial Markets lifted its position in Pangaea Logistics Solutions by 55.7% during the first quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company's stock valued at $417,000 after purchasing an additional 21,417 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Pangaea Logistics Solutions by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company's stock worth $541,000 after purchasing an additional 6,125 shares during the last quarter. 60.23% of the stock is owned by institutional investors.

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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