Rand Logistics, Inc. (RLOG) Shares Gap Down to $0.67

Rand Logistics, Inc. (NASDAQ:RLOG) gapped down prior to trading on Wednesday . The stock had previously closed at $0.61, but opened at $0.67. Rand Logistics shares last traded at $0.80, with a volume of 3671400 shares.

Separately, ValuEngine upgraded Rand Logistics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th.

Rand Logistics (NASDAQ:RLOG) last posted its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.41). The firm had revenue of $32.34 million during the quarter. Rand Logistics had a negative return on equity of 160.74% and a negative net margin of 18.21%.

In related news, major shareholder Brent D. Baird bought 167,242 shares of the stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $0.34 per share, for a total transaction of $56,862.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Brent D. Baird bought 300,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were bought at an average price of $0.29 per share, for a total transaction of $87,000.00. Following the completion of the acquisition, the insider now owns 2,952,683 shares in the company, valued at $856,278.07. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 867,242 shares of company stock worth $259,862. Insiders own 13.10% of the company’s stock.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC lifted its stake in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,700 shares of the shipping company’s stock after purchasing an additional 17,100 shares during the period. Renaissance Technologies LLC owned 0.90% of Rand Logistics worth $107,000 as of its most recent SEC filing. Institutional investors own 31.56% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Rand Logistics, Inc. (RLOG) Shares Gap Down to $0.67” was originally published by Markets Daily and is owned by of Markets Daily. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.themarketsdaily.com/2017/11/16/rand-logistics-inc-rlog-shares-gap-down-to-0-67.html.

Rand Logistics Company Profile

Rand Logistics, Inc is a shipping company that, through its operating subsidiaries, is engaged in the operation of bulk carriers on the Great Lakes. The Company’s shipping business is operated in Canada by Lower Lakes Towing Ltd. (Lower Lakes Towing) and in the United States by Lower Lakes Transportation Company (Lower Lakes Transportation).

Receive News & Ratings for Rand Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rand Logistics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply