Proficient Auto Logistics, Inc.'s Lock-Up Period To Expire on November 5th (NASDAQ:PAL)

Proficient Auto Logistics' (NASDAQ:PAL - Get Free Report) lock-up period is set to end on Tuesday, November 5th. Proficient Auto Logistics had issued 14,333,333 shares in its IPO on May 9th. The total size of the offering was $214,999,995 based on an initial share price of $15.00. After the expiration of Proficient Auto Logistics' lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

PAL has been the topic of several research analyst reports. Raymond James decreased their target price on shares of 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. Stifel Nicolaus cut their price target on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Finally, Barrington Research decreased their target price on Proficient Auto Logistics from $22.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, October 17th.

Proficient Auto Logistics Stock Down 2.4 %

Shares of NASDAQ:PAL traded down $0.20 on Tuesday, reaching $8.23. 292,004 shares of the company's stock were exchanged, compared to its average volume of 263,829. The business has a 50-day simple moving average of $15.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36. Proficient Auto Logistics has a fifty-two week low of $8.16 and a fifty-two week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last released its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to analyst estimates of $101.69 million. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Proficient Auto Logistics will post 0.51 EPS for the current year.

Insider Buying and Selling

In related news, Director James B. Gattoni bought 20,000 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost 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 $379,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nicholas Hoffman & Company LLC. bought a new stake in shares of Proficient Auto Logistics during the 3rd quarter worth about $177,000. Wedge Capital Management L L P NC bought a new stake in Proficient Auto Logistics during the third quarter worth approximately $1,691,000. SG Americas Securities LLC bought a new stake in Proficient Auto Logistics during the third quarter worth approximately $104,000. Ghisallo Capital Management LLC acquired a new stake in Proficient Auto Logistics in the second quarter worth approximately $3,212,000. Finally, Millennium Management LLC bought a new position in Proficient Auto Logistics during the 2nd quarter valued at $14,446,000.

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.