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 in November. As of November 30th, there was short interest totalling 1,180,000 shares, a growth of 18.0% from the November 15th total of 1,000,000 shares. Based on an average daily trading volume, of 348,800 shares, the days-to-cover ratio is presently 3.4 days. Approximately 5.6% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research analysts have commented on PAL shares. Barrington Research lowered their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Stifel Nicolaus lowered their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Finally, Raymond James reduced 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.

Proficient Auto Logistics Trading Down 0.7 %

Proficient Auto Logistics stock traded down $0.06 during mid-day trading on Monday, reaching $9.15. The company had a trading volume of 117,184 shares, compared to its average volume of 256,004. The business has a fifty day simple moving average of $9.95 and a 200 day simple moving average of $14.67. Proficient Auto Logistics has a fifty-two week low of $8.06 and a fifty-two week high of $21.01. 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 (NASDAQ:PAL - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $89.54 million. Proficient Auto Logistics's revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities research analysts expect that Proficient Auto Logistics will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Richard D. Odell bought 54,000 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $9.20 per share, for a total transaction of $496,800.00. Following the transaction, the chief executive officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Proficient Auto Logistics during the third quarter worth $104,000. MetLife Investment Management LLC bought a new position in Proficient Auto Logistics during the 3rd quarter worth $129,000. Verition Fund Management LLC acquired a new position in Proficient Auto Logistics during the 3rd quarter worth about $152,000. XTX Topco Ltd bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at about $176,000. Finally, Nicholas Hoffman & Company LLC. acquired a new stake in shares of Proficient Auto Logistics in the third quarter valued at about $177,000.

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.

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