Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Declines By 19.9%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 1,150,818 shares, a drop of 19.9% from the January 15th total of 1,437,290 shares. Based on an average daily volume of 153,124 shares, the short-interest ratio is currently 7.5 days. Approximately 4.8% of the shares of the stock are sold short. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 153,124 shares, the short-interest ratio is currently 7.5 days.

Insider Transactions at Proficient Auto Logistics

In other news, Director John Skiadas sold 18,270 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $7.27, for a total transaction of $132,822.90. Following the transaction, the director directly owned 1,852,597 shares in the company, valued at approximately $13,468,380.19. This represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 75,000 shares of company stock worth $548,429 over the last three months. Insiders own 13.90% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Proficient Auto Logistics during the second quarter valued at about $29,000. BNP Paribas Financial Markets increased its holdings in Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after purchasing an additional 1,975 shares during the period. Jones Financial Companies Lllp purchased a new position in Proficient Auto Logistics during the 1st quarter valued at about $73,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 purchasing an additional 3,866 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after buying an additional 1,800 shares during the period.

Analysts Set New Price Targets

A number of research analysts have commented on PAL shares. Stifel Nicolaus increased their price target on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Proficient Auto Logistics Trading Down 1.8%

PAL stock traded down $0.13 during midday trading on Monday, hitting $7.05. The company had a trading volume of 298,601 shares, compared to its average volume of 289,026. The stock has a market cap of $196.20 million, a price-to-earnings ratio of -5.78, a PEG ratio of 2.19 and a beta of 2.17. Proficient Auto Logistics has a 52 week low of $5.76 and a 52 week high of $11.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $9.75 and its 200 day moving average price is $8.12.

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.