Pangaea Logistics Solutions Ltd (NASDAQ:PANL) Short Interest Down 34.4% in September

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 20,000 shares, a decrease of 34.4% from the August 31st total of 30,500 shares. Based on an average daily trading volume, of 45,700 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

In other news, major shareholder One Acquisition Holdin Pangaea sold 18,316 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.50, for a total transaction of $45,790.00. Following the completion of the transaction, the insider now directly owns 277,477 shares in the company, valued at approximately $693,692.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 78,984 shares of company stock valued at $194,280. Company insiders own 44.94% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockland Trust Co. boosted its stake in shares of Pangaea Logistics Solutions by 0.9% in the 2nd quarter. Rockland Trust Co. now owns 10,310,267 shares of the shipping company’s stock valued at $25,879,000 after purchasing an additional 89,071 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at $98,000. Charles Schwab Investment Management Inc. purchased a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at $58,000. Finally, Bank of New York Mellon Corp purchased a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 29.79% of the company’s stock.

Pangaea Logistics Solutions stock remained flat at $$2.59 during midday trading on Thursday. 8,136 shares of the company traded hands, compared to its average volume of 27,808. Pangaea Logistics Solutions has a 1-year low of $1.60 and a 1-year high of $3.38. The company has a market capitalization of $116.72 million, a PE ratio of 25.90 and a beta of 0.79. The stock’s 50-day simple moving average is $2.39 and its 200-day simple moving average is $2.20. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 0.55.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Wednesday, August 12th. The shipping company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.23. The business had revenue of $70.40 million for the quarter, compared to analysts’ expectations of $75.42 million. Pangaea Logistics Solutions had a net margin of 0.03% and a return on equity of 5.14%. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, analysts predict that Pangaea Logistics Solutions will post 0.05 EPS for the current year.

Several equities research analysts recently issued reports on PANL shares. TheStreet upgraded shares of Pangaea Logistics Solutions from a “d+” rating to a “c” rating in a research note on Monday, August 31st. Zacks Investment Research upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Friday, August 14th. Finally, ValuEngine upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th.

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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