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

Proficient Auto Logistics, Inc. (NASDAQ:PAL) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,860,000 shares, an increase of 25.7% from the February 13th total of 1,480,000 shares. Currently, 8.9% of the shares of the stock are sold short. Based on an average trading volume of 250,400 shares, the short-interest ratio is presently 7.4 days.

Wall Street Analysts Forecast Growth

PAL has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research note on Wednesday, February 12th. Stifel Nicolaus cut their target price on shares of 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.

Proficient Auto Logistics Stock Down 2.0 %

PAL stock opened at $9.65 on Wednesday. Proficient Auto Logistics has a 12 month low of $7.24 and a 12 month high of $21.01. The firm has a 50 day simple moving average of $10.06 and a 200 day simple moving average of $10.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25.

Institutional Trading of Proficient Auto Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Proficient Auto Logistics by 7.9% during the fourth quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock valued at $137,000 after purchasing an additional 1,238 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Proficient Auto Logistics by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock valued at $70,000 after acquiring an additional 2,373 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in shares of Proficient Auto Logistics by 20.0% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock valued at $121,000 after acquiring an additional 2,500 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Proficient Auto Logistics by 10.8% during the fourth quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company’s stock valued at $272,000 after acquiring an additional 3,287 shares during the period. Finally, Barclays PLC raised its holdings in shares of Proficient Auto Logistics by 15.3% during the fourth quarter. Barclays PLC now owns 25,324 shares of the company’s stock valued at $204,000 after acquiring an additional 3,365 shares during the period.

About Proficient Auto Logistics

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.