Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Update

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,510,000 shares, a growth 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. Approximately 7.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PAL. Raymond James dropped their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. Stifel Nicolaus dropped their target price on Proficient Auto Logistics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of Proficient Auto Logistics in a research note on Monday.

Proficient Auto Logistics Stock Performance

Shares of Proficient Auto Logistics stock traded down $0.23 on Friday, reaching $7.88. The company had a trading volume of 173,197 shares, compared to its average volume of 199,882. Proficient Auto Logistics has a 52-week low of $7.24 and a 52-week high of $21.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm's 50 day moving average price is $9.25 and its two-hundred day moving average price is $12.81.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. The firm's revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Proficient Auto Logistics will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell bought 54,000 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 753,802 shares of the company's stock, valued at $6,934,978.40. This represents a 7.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in shares of Proficient Auto Logistics during the fourth quarter worth about $90,000. Bank of New York Mellon Corp lifted its holdings in Proficient Auto Logistics by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company's stock worth $272,000 after buying an additional 3,287 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in Proficient Auto Logistics by 20.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company's stock valued at $121,000 after buying an additional 2,500 shares during the period. Rhumbline Advisers grew its stake in shares of Proficient Auto Logistics by 7.9% in the fourth quarter. Rhumbline Advisers now owns 16,971 shares of the company's stock worth $137,000 after acquiring an additional 1,238 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Proficient Auto Logistics by 159,197.1% in the third quarter. JPMorgan Chase & Co. now owns 55,754 shares of the company's stock worth $791,000 after acquiring an additional 55,719 shares in the last quarter.

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.