Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Expands By 25.7%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,860,000 shares, an increase of 25.7% from the February 13th total of 1,480,000 shares. Based on an average trading volume of 250,400 shares, the short-interest ratio is presently 7.4 days. Approximately 8.9% of the shares of the stock are short sold.

Proficient Auto Logistics Price Performance

Shares of NASDAQ PAL traded down $0.20 during trading hours on Tuesday, reaching $9.65. 155,671 shares of the stock traded hands, compared to its average volume of 270,303. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. Proficient Auto Logistics has a 52-week low of $7.24 and a 52-week high of $21.01. The company’s 50-day simple moving average is $10.05 and its two-hundred day simple moving average is $11.03.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of Proficient Auto Logistics in a report on Wednesday, February 12th.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Proficient Auto Logistics during the 4th quarter worth approximately $49,000. Wells Fargo & Company MN grew its position in Proficient Auto Logistics by 37.9% during the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock worth $70,000 after acquiring an additional 2,373 shares during the last quarter. MetLife Investment Management LLC bought a new position in Proficient Auto Logistics during the 3rd quarter worth approximately $129,000. Verition Fund Management LLC bought a new position in Proficient Auto Logistics during the 3rd quarter worth approximately $152,000. Finally, Victory Capital Management Inc. bought a new position in Proficient Auto Logistics during the 4th quarter worth approximately $90,000.

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.