Noble Financial reiterated their buy rating on shares of Pangaea Logistics Solutions (NASDAQ:PANL) in a research note issued to investors on Friday morning. They currently have a $5.50 target price on the shipping company’s stock.
A number of other brokerages have also issued reports on PANL. TheStreet raised shares of Pangaea Logistics Solutions from a c+ rating to a b- rating in a research note on Wednesday, March 20th. Zacks Investment Research raised shares of Pangaea Logistics Solutions from a strong sell rating to a hold rating in a research note on Saturday, January 12th. Finally, ValuEngine raised shares of Pangaea Logistics Solutions from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd.
Shares of PANL opened at $3.16 on Friday. The firm has a market cap of $140.62 million, a PE ratio of 5.96 and a beta of 0.28. Pangaea Logistics Solutions has a 12-month low of $2.35 and a 12-month high of $3.90. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.60.
Institutional investors and hedge funds have recently modified their holdings of the company. Price Wealth Management Inc. purchased a new stake in shares of Pangaea Logistics Solutions during the fourth quarter valued at $45,000. Renaissance Technologies LLC purchased a new stake in Pangaea Logistics Solutions in the third quarter worth about $111,000. Finally, Dimensional Fund Advisors LP lifted its stake in Pangaea Logistics Solutions by 85.3% in the third quarter. Dimensional Fund Advisors LP now owns 81,195 shares of the shipping company’s stock worth $284,000 after acquiring an additional 37,370 shares during the period. 27.03% of the stock is owned by hedge funds and other institutional investors.
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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