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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PAL. Quantbot Technologies LP acquired a new position in Proficient Auto Logistics during the 4th quarter valued at about $49,000. Wells Fargo & Company MN lifted its stake in shares of Proficient Auto Logistics by 37.9% in the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock worth $70,000 after acquiring an additional 2,373 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter worth approximately $90,000. Squarepoint Ops LLC acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter worth approximately $96,000. Finally, Deutsche Bank AG acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter worth approximately $120,000.

Wall Street Analysts Forecast Growth

PAL has been the subject of several research analyst reports. Stifel Nicolaus dropped 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 report on Thursday, January 23rd. Barrington Research reissued an “outperform” rating and issued a $15.00 target price on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th.

Proficient Auto Logistics Trading Down 2.0 %

Shares of NASDAQ:PAL opened at $9.65 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics has a fifty-two week low of $7.24 and a fifty-two week 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.

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.