ValuEngine upgraded shares of Rand Logistics, Inc. (NASDAQ:RLOG) from a strong sell rating to a sell rating in a research report report published on Tuesday.

Shares of Rand Logistics (NASDAQ RLOG) traded down $1.08 during mid-day trading on Tuesday, hitting $0.82. 18,993,494 shares of the stock traded hands, compared to its average volume of 862,665. Rand Logistics has a 52 week low of $0.19 and a 52 week high of $2.95.

Rand Logistics (NASDAQ:RLOG) last announced its earnings results on Monday, August 14th. The shipping company reported ($0.30) 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 net margin of 18.21% and a negative return on equity of 160.74%.

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In other news, major shareholder Brent D. Baird bought 400,000 shares of the stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $0.29 per share, for a total transaction of $116,000.00. Following the completion of the acquisition, the insider now directly owns 2,602,683 shares in the company, valued at approximately $754,778.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Brent D. Baird bought 350,000 shares of the stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $0.29 per share, with a total value of $101,500.00. Following the acquisition, the insider now owns 2,252,683 shares of the company’s stock, valued at $653,278.07. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,217,242 shares of company stock valued at $361,362. 13.10% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Rand Logistics stock. Renaissance Technologies LLC boosted its stake in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,700 shares of the shipping company’s stock after buying an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of Rand Logistics worth $107,000 as of its most recent SEC filing. 31.09% of the stock is owned by hedge funds and other institutional investors.

About Rand Logistics

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).

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