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

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a large growth in short interest in 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 short sold. Based on an average daily trading volume, of 329,200 shares, the days-to-cover ratio is presently 2.5 days.

Proficient Auto Logistics Trading Up 4.3 %

Shares of NASDAQ:PAL traded up $0.39 during trading on Friday, reaching $9.54. The company had a trading volume of 506,987 shares, compared to its average volume of 270,861. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. The firm’s fifty 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.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Friday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company 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% compared to the same quarter last year. Equities analysts anticipate that Proficient Auto Logistics will post 0.51 EPS for the current year.

Insider Activity

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased 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 directly owns 20,000 shares in the company, valued at $379,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard D. Odell bought 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the purchase, the chief executive officer now owns 753,802 shares of the company’s stock, valued at $6,934,978.40. The trade was a 7.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAL. First Eagle Investment Management LLC purchased a new stake in Proficient Auto Logistics during the second quarter worth $1,867,000. AYAL Capital Advisors Ltd purchased a new stake in Proficient Auto Logistics during the second quarter worth $5,220,000. Wedge Capital Management L L P NC purchased a new stake in Proficient Auto Logistics during the third quarter worth $1,691,000. Emerald Advisers LLC purchased a new stake in Proficient Auto Logistics during the second quarter worth $1,172,000. Finally, Millennium Management LLC purchased a new stake in Proficient Auto Logistics during the second quarter worth $14,446,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James cut their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Barrington Research cut their price target on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus cut their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report 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.