Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Update

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant growth in short interest in the month of 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. Currently, 5.6% of the company’s shares are sold short. Based on an average daily volume of 348,800 shares, the short-interest ratio is currently 3.4 days.

Proficient Auto Logistics Stock Performance

Shares of NASDAQ PAL traded down $0.06 during mid-day trading on Monday, reaching $9.15. 117,184 shares of the company’s stock traded hands, compared to its average volume of 256,004. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $14.67. Proficient Auto Logistics has a 1-year low of $8.06 and a 1-year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $89.54 million. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Proficient Auto Logistics will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PAL. Barrington Research cut their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Raymond James cut their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Finally, Stifel Nicolaus reduced their price objective on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 17th.

Insider Buying and Selling

In related news, CEO Richard D. Odell bought 54,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $9.20 per share, with a total value of $496,800.00. Following the completion of the purchase, the chief executive officer now directly owns 753,802 shares in the company, valued at $6,934,978.40. The trade was a 7.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its position in Proficient Auto Logistics by 40.5% in the third quarter. Lord Abbett & CO. LLC now owns 498,911 shares of the company’s stock worth $7,075,000 after purchasing an additional 143,697 shares during the last quarter. Barclays PLC purchased a new stake in Proficient Auto Logistics during the third quarter worth about $311,000. Geode Capital Management LLC raised its position in Proficient Auto Logistics by 136.9% in the third quarter. Geode Capital Management LLC now owns 347,752 shares of the company’s stock worth $4,932,000 after acquiring an additional 200,977 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Proficient Auto Logistics in the third quarter valued at about $242,000. Finally, State Street Corp grew its position in shares of Proficient Auto Logistics by 199.0% during the 3rd quarter. State Street Corp now owns 157,551 shares of the company’s stock valued at $2,234,000 after acquiring an additional 104,851 shares during the period.

About Proficient Auto Logistics

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.