Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Declines By 19.9%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,150,818 shares, a drop of 19.9% from the January 15th total of 1,437,290 shares. Currently, 4.8% of the shares of the company are short sold. Based on an average daily volume of 153,124 shares, the short-interest ratio is presently 7.5 days. Based on an average daily volume of 153,124 shares, the short-interest ratio is presently 7.5 days. Currently, 4.8% of the shares of the company are short sold.

Insider Transactions at Proficient Auto Logistics

In other news, Director John Skiadas sold 18,270 shares of Proficient Auto Logistics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $7.27, for a total transaction of $132,822.90. Following the completion of the sale, the director owned 1,852,597 shares of the company’s stock, valued at approximately $13,468,380.19. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 75,000 shares of company stock valued at $548,429. Insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of institutional investors have recently modified their holdings of the business. Boston Partners lifted its position in shares of Proficient Auto Logistics by 6.9% during the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after buying an additional 147,101 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Proficient Auto Logistics by 18.2% in the second quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock worth $13,038,000 after acquiring an additional 276,269 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Proficient Auto Logistics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock valued at $7,824,000 after purchasing an additional 83,148 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Proficient Auto Logistics by 7.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock valued at $8,737,000 after purchasing an additional 62,846 shares during the last quarter. Finally, Millennium Management LLC increased its position in Proficient Auto Logistics by 5.9% during the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after purchasing an additional 35,335 shares in the last quarter.

Proficient Auto Logistics Stock Performance

Shares of Proficient Auto Logistics stock opened at $7.05 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $196.20 million, a PE ratio of -5.78, a price-to-earnings-growth ratio of 2.19 and a beta of 2.18. The company has a 50 day moving average of $9.79 and a 200-day moving average of $8.11. Proficient Auto Logistics has a 1-year low of $5.76 and a 1-year high of $11.25.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAL. Stifel Nicolaus boosted their price objective on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

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.