The stock of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) last traded at $5.45, up 2.25% from the previous session.
Data from the available sources indicates that Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is covered by 3 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.75 and a low of $4.50, we find $8.50. Given the previous closing price of $5.33, this indicates a potential upside of 59.47 percent. PANL stock price is now 8.27% away from the 50-day moving average and 6.33% away from the 200-day moving average. The market capitalization of the company currently stands at $243.40M.
In total, 1 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $7.25 as their price target over the next twelve months.
With the price target of $7.50, Alliance Global Partners recently initiated with Buy rating for Pangaea Logistics Solutions Ltd. (NASDAQ: PANL). On September 17, 2021, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $7.50.
Insiders disposed of 21,368 shares of company stock worth roughly $0.12 million over the past 1 year. A total of 23.67% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PANL stock. A new stake in Pangaea Logistics Solutions Ltd. shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $655,000. BOOTHBAY FUND MANAGEMENT, LLC invested $436,000 in shares of PANL during the first quarter. In the first quarter, FIRST REPUBLIC INVESTMENT MANAGEMENT, INC. acquired a new stake in Pangaea Logistics Solutions Ltd. valued at approximately $137,000. RAYMOND JAMES & ASSOCIATES acquired a new stake in PANL for approximately $91,000. STOKES FAMILY OFFICE, LLC purchased a new stake in PANL valued at around $85,000 in the second quarter. In total, there are 79 active investors with 49.00% ownership of the company’s stock.
With an opening price of $5.33 on Tuesday morning, Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) set off the trading day. During the past 12 months, Pangaea Logistics Solutions Ltd. has had a low of $3.60 and a high of $7.05. As of last week, the company has a debt-to-equity ratio of 0.98, a current ratio of 2.40, and a quick ratio of 2.10. The fifty day moving average price for PANL is $5.03 and a two-hundred day moving average price translates $5.13 for the stock.
The latest earnings results from Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) was released for Sep, 2022. According to the Marine Shipping Company, earnings per share came in at $0.42, missing analysts’ expectations of $0.56 by -0.14. This compares to $0.64 EPS in the same period last year. The net profit margin was 9.80% and return on equity was 28.70% for PANL. The company reported revenue of $184.48 million for the quarter, compared to $213.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.4 percent. For the current quarter, analysts expect PANL to generate $157.2M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/01/2022 were paid a $0.10 dividend. On an annualized basis, this represents a $0.40 dividend and a 7.34% percent yield. There was an ex-dividend date of 11/30/2022 for this dividend. In terms of dividend payout ratio, PANL is presently at 11.20%.
Pangaea Logistics Solutions Ltd.(PANL) Company Profile
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. Its ocean logistics services comprise cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management. As of March 16, 2022, the company owned and operated a fleet of 25 vessels. Pangaea Logistics Solutions, Ltd. was founded in 1996 and is based in Newport, Rhode Island.