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

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) was the target of 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. Based on an average daily volume of 250,400 shares, the short-interest ratio is currently 7.4 days. Currently, 8.9% of the company's shares are sold short.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAL. Stifel Nicolaus reduced their price target on Proficient Auto Logistics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Barrington Research restated an "outperform" rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter valued at about $49,000. Wells Fargo & Company MN raised 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 valued at $70,000 after purchasing 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 valued at about $90,000. Squarepoint Ops LLC acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter valued at about $96,000. Finally, Deutsche Bank AG acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter valued at about $120,000.

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Proficient Auto Logistics Trading Down 5.0 %

PAL stock traded down $0.53 during midday trading on Friday, hitting $9.88. 184,553 shares of the company's stock were exchanged, compared to its average volume of 270,309. The stock's fifty day moving average price is $10.08 and its 200-day moving average price is $10.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. Proficient Auto Logistics has a one year low of $7.24 and a one year high of $21.01.

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.