Pangaea Logistics Solutions (NASDAQ:PANL) Cut to Sell at StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Pangaea Logistics Solutions Stock Up 2.7 %

PANL stock opened at $5.61 on Monday. Pangaea Logistics Solutions has a 52-week low of $4.69 and a 52-week high of $8.32. The company’s 50 day simple moving average is $5.28 and its 200-day simple moving average is $5.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The firm has a market capitalization of $364.43 million, a P/E ratio of 11.94 and a beta of 0.84.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Pangaea Logistics Solutions by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company’s stock worth $494,000 after buying an additional 2,916 shares in the last quarter. Wells Fargo & Company MN lifted its position in Pangaea Logistics Solutions by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company’s stock worth $99,000 after buying an additional 4,007 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Pangaea Logistics Solutions by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 4,499 shares in the last quarter. State Street Corp raised its holdings in shares of Pangaea Logistics Solutions by 0.8% during the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock valued at $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Pangaea Logistics Solutions by 27.5% during the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company’s stock valued at $173,000 after purchasing an additional 6,965 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.