Pangaea Logistics Solutions Ltd (NASDAQ:PANL) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a 12 month consensus price target of $4.55 for the company and are anticipating that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given Pangaea Logistics Solutions an industry rank of 249 out of 265 based on the ratings given to its competitors.
A number of brokerages have issued reports on PANL. ValuEngine raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Friday, December 15th. TheStreet raised shares of Pangaea Logistics Solutions from a “d+” rating to a “c-” rating in a report on Monday, November 27th. Finally, Noble Financial began coverage on shares of Pangaea Logistics Solutions in a report on Tuesday, December 12th. They set a “buy” rating on the stock.
A number of hedge funds have recently modified their holdings of PANL. Monashee Investment Management LLC bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $134,000. Renaissance Technologies LLC bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $125,000. Deutsche Bank AG bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $121,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Pangaea Logistics Solutions by 4,998.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 841,372 shares of the shipping company’s stock worth $3,096,000 after purchasing an additional 824,868 shares during the period. 28.53% of the stock is currently owned by institutional investors and hedge funds.
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About Pangaea Logistics Solutions
Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.
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