Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Short Interest Up 47.2% in January

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 699,417 shares, a growth of 47.2% from the January 15th total of 475,234 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 1,116,621 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 1,116,621 shares, the short-interest ratio is currently 0.6 days. Approximately 1.3% of the shares of the stock are short sold.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL traded up $0.03 during trading on Friday, reaching $8.48. The company had a trading volume of 608,005 shares, compared to its average volume of 889,548. The company has a fifty day moving average of $7.48 and a two-hundred day moving average of $6.17. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $550.95 million, a P/E ratio of 28.27 and a beta of 0.79. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $9.17.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PANL shares. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. B. Riley Financial restated a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of “Hold” and a consensus price target of $9.00.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of large investors have recently modified their holdings of PANL. First Trust Advisors LP lifted its position in Pangaea Logistics Solutions by 2.1% in the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock worth $735,000 after buying an additional 2,159 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Pangaea Logistics Solutions by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after acquiring an additional 2,300 shares during the last quarter. Lakewood Asset Management LLC lifted its holdings in shares of Pangaea Logistics Solutions by 7.3% in the 4th quarter. Lakewood Asset Management LLC now owns 39,542 shares of the shipping company’s stock worth $272,000 after acquiring an additional 2,705 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 2,864 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 3,344 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.