Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Rises By 56.6%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 836,000 shares, a growth of 56.6% from the October 15th total of 533,800 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average trading volume of 329,200 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard D. Odell purchased 54,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $9.20 per share, for a total transaction of $496,800.00. Following the purchase, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. The trade was a 7.72 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust purchased a new stake in Proficient Auto Logistics in the 2nd quarter valued at $12,077,000. Emerald Advisers LLC purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $1,172,000. American Century Companies Inc. purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $20,687,000. Federated Hermes Inc. purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $257,000. Finally, Blair William & Co. IL purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $660,000.

Proficient Auto Logistics Trading Up 4.3 %

Shares of PAL stock traded up $0.39 during trading hours on Friday, hitting $9.54. 506,987 shares of the company’s stock were exchanged, compared to its average volume of 270,861. The business’s 50 day moving average price is $12.53. Proficient Auto Logistics has a fifty-two week low of $8.06 and a fifty-two week high of $21.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.36 and a quick ratio of 1.36.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. Proficient Auto Logistics’s quarterly revenue was down 12.5% on a year-over-year basis. On average, equities research analysts expect that Proficient Auto Logistics will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PAL. Barrington Research dropped their target price on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. Raymond James reduced their target price on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Stifel Nicolaus reduced their target price on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 17th.

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.