Short Interest in Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Declines By 32.4%

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Pangaea Logistics Solutions Ltd (NASDAQ:PANL) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 4,800 shares, a drop of 32.4% from the July 15th total of 7,100 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is presently 0.2 days.

Several equities research analysts have weighed in on PANL shares. Noble Financial set a $6.00 price objective on shares of Pangaea Logistics Solutions and gave the company a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research cut shares of Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Finally, ValuEngine cut shares of Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP boosted its stake in shares of Pangaea Logistics Solutions by 36.4% in the 2nd quarter. Susquehanna International Group LLP now owns 19,327 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 5,153 shares during the last quarter. Citadel Advisors LLC bought a new position in Pangaea Logistics Solutions during the 2nd quarter worth approximately $35,000. BlackRock Inc. boosted its stake in Pangaea Logistics Solutions by 132.5% during the 2nd quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock worth $188,000 after acquiring an additional 31,969 shares during the last quarter. WealthTrust Axiom LLC boosted its stake in Pangaea Logistics Solutions by 57.1% during the 2nd quarter. WealthTrust Axiom LLC now owns 22,000 shares of the shipping company’s stock worth $73,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Pangaea Logistics Solutions by 37.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 111,547 shares of the shipping company’s stock worth $338,000 after acquiring an additional 30,352 shares during the last quarter. 26.25% of the stock is currently owned by institutional investors.

Shares of NASDAQ PANL traded down $0.06 during mid-day trading on Tuesday, hitting $3.03. The company’s stock had a trading volume of 11,243 shares, compared to its average volume of 22,520. The stock has a market cap of $134.69 million, a price-to-earnings ratio of 5.72 and a beta of 0.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.17. Pangaea Logistics Solutions has a one year low of $2.71 and a one year high of $4.35. The company’s fifty day simple moving average is $3.36 and its 200-day simple moving average is $3.38.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Monday, August 12th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.11). The business had revenue of $83.29 million during the quarter, compared to the consensus estimate of $109.72 million. Pangaea Logistics Solutions had a net margin of 4.28% and a return on equity of 8.39%. During the same period last year, the business posted $0.13 EPS. On average, sell-side analysts predict that Pangaea Logistics Solutions will post 0.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, August 23rd. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 26.42%.

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. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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