Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Grows By 19.8%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 1,396,943 shares, a growth of 19.8% from the December 15th total of 1,166,337 shares. Currently, 5.8% of the company’s stock are sold short. Based on an average trading volume of 160,297 shares, the short-interest ratio is presently 8.7 days. Based on an average trading volume of 160,297 shares, the short-interest ratio is presently 8.7 days. Currently, 5.8% of the company’s stock are sold short.

Proficient Auto Logistics Stock Performance

PAL traded down $0.51 during trading on Tuesday, hitting $9.48. The company’s stock had a trading volume of 107,268 shares, compared to its average volume of 197,743. The business’s 50 day simple moving average is $9.17 and its 200-day simple moving average is $7.85. The firm has a market cap of $263.83 million, a PE ratio of -474.00, a P/E/G ratio of 2.00 and a beta of 2.18. Proficient Auto Logistics has a one year low of $5.76 and a one year high of $11.37. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Proficient Auto Logistics in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price objective on Proficient Auto Logistics from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Insider Buying and Selling at Proficient Auto Logistics

In related news, Director John Skiadas sold 18,270 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $7.27, for a total value of $132,822.90. Following the completion of the transaction, the director directly owned 1,852,597 shares in the company, valued at $13,468,380.19. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 75,000 shares of company stock worth $548,429 over the last ninety days. 13.90% of the stock is owned by company insiders.

Institutional Trading of Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $29,000. BNP Paribas Financial Markets increased its holdings in Proficient Auto Logistics by 77.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after acquiring an additional 1,975 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Proficient Auto Logistics in the 1st quarter worth approximately $73,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after acquiring an additional 3,866 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Proficient Auto Logistics by 15.0% during the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after purchasing an additional 1,800 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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.