Proficient Auto Logistics, Inc. (NASDAQ:PAL) Sees Significant Increase in Short Interest

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,510,000 shares, a growth of 18.9% from the December 31st total of 1,270,000 shares. Based on an average daily trading volume, of 219,700 shares, the short-interest ratio is presently 6.9 days. Currently, 7.2% of the shares of the stock are short sold.

Proficient Auto Logistics Price Performance

PAL stock traded down $0.67 on Monday, reaching $9.17. The company had a trading volume of 103,075 shares, compared to its average volume of 209,756. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. Proficient Auto Logistics has a 1 year low of $7.24 and a 1 year high of $21.01. The company’s fifty day moving average is $9.36 and its 200 day moving average is $13.00.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Proficient Auto Logistics will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

PAL has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Barrington Research restated an “outperform” rating and issued a $15.00 target price on shares of Proficient Auto Logistics in a research note on Monday. Finally, Raymond James cut their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 14th.

Insider Activity

In related news, CEO Richard D. Odell purchased 54,000 shares of Proficient Auto Logistics stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $9.20 per share, with a total value of $496,800.00. Following the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Proficient Auto Logistics in the 3rd quarter worth about $104,000. Nicholas Hoffman & Company LLC. lifted its holdings in Proficient Auto Logistics by 20.0% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock worth $121,000 after purchasing an additional 2,500 shares during the period. MetLife Investment Management LLC acquired a new stake in Proficient Auto Logistics in the third quarter worth approximately $129,000. Rhumbline Advisers grew its stake in shares of Proficient Auto Logistics by 7.9% in the 4th quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock worth $137,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Proficient Auto Logistics during the 3rd quarter valued at $152,000.

Proficient Auto Logistics Company Profile

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.