Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Up 18.9% in January

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James cut their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research report on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd.

Proficient Auto Logistics Stock Down 6.8 %

PAL stock traded down $0.67 during midday trading on Monday, hitting $9.17. The stock had a trading volume of 103,075 shares, compared to its average volume of 209,756. The business has a 50-day moving average of $9.36 and a two-hundred day moving average of $13.00. 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 52-week low of $7.24 and a 52-week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $89.54 million. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities analysts anticipate that Proficient Auto Logistics will post 0.4 EPS for the current year.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell purchased 54,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $9.20 per share, for a total transaction of $496,800.00. Following the completion of the transaction, the chief executive officer now owns 753,802 shares in the company, valued at $6,934,978.40. This represents a 7.72 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Proficient Auto Logistics during the 3rd quarter valued at about $104,000. Nicholas Hoffman & Company LLC. grew its stake 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 in the last quarter. MetLife Investment Management LLC purchased a new stake in Proficient Auto Logistics in the third quarter worth about $129,000. Rhumbline Advisers lifted its position 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 period. Finally, Verition Fund Management LLC bought a new stake in Proficient Auto Logistics during the 3rd quarter valued at $152,000.

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.