Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Down 25.4% in December

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 1,166,337 shares, a decrease of 25.4% from the November 30th total of 1,562,501 shares. Based on an average daily volume of 219,777 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.9% of the shares of the stock are short sold. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily volume of 219,777 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Ratings Changes

PAL has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Proficient Auto Logistics from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price target on shares of Proficient Auto Logistics in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Proficient Auto Logistics in a report on Wednesday, October 8th. Finally, William Blair lowered Proficient Auto Logistics from an “outperform” rating to a “market perform” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.00.

Proficient Auto Logistics Trading Down 0.5%

Shares of Proficient Auto Logistics stock traded down $0.05 on Tuesday, reaching $9.83. The company had a trading volume of 95,408 shares, compared to its average volume of 235,233. The firm’s 50 day moving average price is $8.35 and its two-hundred day moving average price is $7.56. Proficient Auto Logistics has a 52-week low of $5.76 and a 52-week high of $11.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $273.57 million, a PE ratio of -491.50, a PEG ratio of 29.63 and a beta of 2.39.

Insider Activity

In other news, Director John Skiadas sold 18,270 shares of Proficient Auto Logistics stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $7.27, for a total value of $132,822.90. Following the completion of the transaction, the director owned 1,852,597 shares in the company, valued at approximately $13,468,380.19. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 75,000 shares of company stock worth $548,429. Company insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of institutional investors and hedge funds have recently bought and sold shares of PAL. FNY Investment Advisers LLC acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets lifted its stake in Proficient Auto Logistics by 77.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after buying an additional 1,975 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Proficient Auto Logistics during the first quarter worth about $73,000. Corebridge Financial Inc. boosted its stake in Proficient Auto Logistics by 33.6% in the 1st quarter. Corebridge Financial Inc. now owns 10,409 shares of the company’s stock worth $87,000 after buying an additional 2,619 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after buying an additional 3,866 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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.