Noble Financial analyst Poe Fratt maintained a Buy rating on Pangaea Logistics Solutions (PANL) today and set a price target of $5.50. The company’s shares closed last Friday at $2.00, close to its 52-week low of $1.60.
According to TipRanks.com, Fratt is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -20.8% and a 27.6% success rate. Fratt covers the Services sector, focusing on stocks such as Energy Services of America, Grindrod Shipping Holdings, and Great Lakes Dredge & Dock.
Pangaea Logistics Solutions has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.
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Based on Pangaea Logistics Solutions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $130 million and GAAP net loss of $4.4 million. In comparison, last year the company earned revenue of $102 million and had a GAAP net loss of $617.9K.
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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne drybulk logistics and transportation services. It operates a fleet of Supramax, Panamax, and Handymax vessels. The company was founded by Edward Coll, Carl Claus Boggild, and Anthony Laura on April 29, 2014 and is headquartered in Newport, RI.