Pangaea Logistics Solutions (NASDAQ:PANL) Stock Passes Below 200-Day Moving Average – Time to Sell?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) shares 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 traded.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Price Performance

The company has a market cap of $289.84 million, a PE ratio of 7.92 and a beta of 0.86. 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 firm has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $7.11.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The firm had revenue of $131.50 million for the quarter, compared to analysts’ expectations of $98.09 million. Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. During the same period in the previous year, the company earned $0.10 EPS. As a group, research 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 declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date was Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 51.28%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of large investors have recently modified their holdings of PANL. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pangaea Logistics Solutions during the 2nd quarter worth approximately $58,000. Lazard Asset Management LLC purchased a new stake in shares of Pangaea Logistics Solutions during the first quarter valued at $61,000. Mackenzie Financial Corp acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $110,000. Wealth Enhancement Advisory Services LLC purchased a new position in Pangaea Logistics Solutions in the 3rd quarter worth $113,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Pangaea Logistics Solutions in the 1st quarter worth $114,000. Hedge funds and other 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.