Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Pangaea Logistics Solutions Stock Up 2.7 %

PANL stock opened at $5.61 on Monday. The stock has a market capitalization of $364.43 million, a P/E ratio of 11.94 and a beta of 0.84. The company has a 50 day moving average price of $5.28 and a two-hundred day moving average price of $5.82. Pangaea Logistics Solutions has a one year low of $4.69 and a one year high of $8.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock valued at $6,059,000 after buying an additional 60,841 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter worth approximately $761,000. Barclays PLC lifted its stake in shares of Pangaea Logistics Solutions by 271.4% in the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after acquiring an additional 34,273 shares during the period. State Street Corp lifted its stake in shares of Pangaea Logistics Solutions by 0.8% in the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after acquiring an additional 4,564 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Pangaea Logistics Solutions by 5.1% in the 4th quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock worth $1,909,000 after acquiring an additional 17,389 shares during the period. 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.