Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Up 132.1% in August

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,109,566 shares, an increase of 132.1% from the July 30th total of 1,339,860 shares. Based on an average daily trading volume, of 1,085,724 shares, the short-interest ratio is currently 2.9 days. Approximately 12.9% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings raised Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Barrington Research set a $12.00 target price on Proficient Auto Logistics in a report on Tuesday, August 11th. Wall Street Zen raised Proficient Auto Logistics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Stifel Nicolaus increased their price target on Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director Rohit Lal acquired 40,000 shares of Proficient Auto Logistics stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the completion of the acquisition, the director directly owned 61,903 shares of the company’s stock, valued at $336,133.29. This represents a 182.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 54,995 shares of company stock valued at $300,222 over the last 90 days. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $11,013,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Proficient Auto Logistics in the 2nd quarter valued at $7,322,000. Royce & Associates LP bought a new position in Proficient Auto Logistics in the 4th quarter valued at $5,835,000. De Lisle Partners LLP purchased a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at $3,914,000. Finally, Empowered Funds LLC purchased a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at $1,573,000.

Proficient Auto Logistics Stock Down 4.5%

Proficient Auto Logistics stock traded down $0.24 during midday trading on Friday, hitting $5.13. 590,745 shares of the stock were exchanged, compared to its average volume of 850,235. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $6.53 and its 200-day moving average price is $6.68. The stock has a market capitalization of $143.90 million, a price-to-earnings ratio of -3.64 and a beta of 1.25.

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.