Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Below 200 Day Moving Average – What’s Next?

Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) crossed 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

Pangaea Logistics Solutions Price Performance

The stock has a market capitalization of $289.84 million, a PE ratio of 7.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.16 and a quick ratio of 1.82. The stock’s fifty day moving average is $6.61 and its 200-day moving average is $7.11.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $98.09 million. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, equities analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.76 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PANL. Point72 Asia Singapore Pte. Ltd. purchased a new stake in 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 first quarter valued at about $61,000. Mackenzie Financial Corp purchased a new stake in shares of Pangaea Logistics Solutions during the second quarter worth about $110,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pangaea Logistics Solutions during the 3rd quarter worth about $113,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Pangaea Logistics Solutions in the 1st quarter valued at about $114,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.