Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Short Interest Update

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 7,600 shares, an increase of 58.3% from the July 31st total of 4,800 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 23,100 shares, the short-interest ratio is currently 0.3 days.

A number of institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP lifted its position in shares of Pangaea Logistics Solutions by 36.4% during the second quarter. Susquehanna International Group LLP now owns 19,327 shares of the shipping company’s stock worth $65,000 after acquiring an additional 5,153 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Pangaea Logistics Solutions during the second quarter worth $35,000. BlackRock Inc. lifted its position in shares of Pangaea Logistics Solutions by 132.5% during the second quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock worth $188,000 after acquiring an additional 31,969 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its position in shares of Pangaea Logistics Solutions by 57.1% during the second 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 in the last quarter. Institutional investors and hedge funds own 26.17% of the company’s stock.

PANL has been the topic of several research analyst reports. ValuEngine downgraded Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Pangaea Logistics Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Noble Financial set a $6.00 price objective on Pangaea Logistics Solutions and gave the company a “buy” rating in a research note on Friday, May 17th.

Pangaea Logistics Solutions stock traded up $0.03 during trading on Friday, hitting $3.28. The stock had a trading volume of 1,218 shares, compared to its average volume of 14,744. Pangaea Logistics Solutions has a 1 year low of $2.71 and a 1 year high of $4.35. The company has a quick ratio of 1.17, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.37. The stock has a market cap of $144.47 million, a price-to-earnings ratio of 6.19 and a beta of 0.29.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Monday, August 12th. The shipping company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.11). Pangaea Logistics Solutions had a net margin of 4.28% and a return on equity of 8.39%. The firm had revenue of $83.29 million during the quarter, compared to analysts’ expectations of $109.72 million. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $0.035 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.14 annualized dividend and a yield of 4.27%. Pangaea Logistics Solutions’s payout ratio is 26.42%.

About Pangaea Logistics Solutions

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.

Further Reading: Growth Stocks

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