Rohit Lal Buys 10,000 Shares of Proficient Auto Logistics (NASDAQ:PAL) Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) Director Rohit Lal bought 10,000 shares of Proficient Auto Logistics stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $6.38 per share, for a total transaction of $63,800.00. Following the completion of the acquisition, the director owned 20,000 shares in the company, valued at $127,600. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL opened at $6.15 on Thursday. Proficient Auto Logistics, Inc. has a 52 week low of $5.76 and a 52 week high of $10.97. The company has a fifty day simple moving average of $8.44 and a two-hundred day simple moving average of $8.05. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $171.15 million, a price-to-earnings ratio of -5.04, a price-to-earnings-growth ratio of 2.39 and a beta of 2.44.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAL. Stifel Nicolaus reduced their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Barrington Research reissued an “outperform” rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.00.

Hedge Funds Weigh In On Proficient Auto Logistics

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Proficient Auto Logistics by 44.7% in the first 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 in the last quarter. Millennium Management LLC increased its holdings in shares of Proficient Auto Logistics by 5.9% in the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock valued at $5,309,000 after acquiring an additional 35,335 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Proficient Auto Logistics in the 1st quarter valued at about $215,000. Jones Financial Companies Lllp acquired a new stake in shares of Proficient Auto Logistics during the 1st quarter worth about $73,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Proficient Auto Logistics by 138.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock worth $884,000 after acquiring an additional 61,272 shares in the last quarter.

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.