Rand Logistics, Inc. (NASDAQ:RLOG) was up 23.5% on Friday . The stock traded as high as $0.72 and last traded at $0.63. Approximately 4,148,516 shares traded hands during mid-day trading, an increase of 303% from the average daily volume of 1,028,760 shares. The stock had previously closed at $0.51.

Separately, ValuEngine raised shares of Rand Logistics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th.

Rand Logistics (NASDAQ:RLOG) last posted its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.41). The company had revenue of $32.34 million during the quarter. Rand Logistics had a negative return on equity of 160.74% and a negative net margin of 18.21%.

In related news, major shareholder Brent D. Baird acquired 400,000 shares of Rand Logistics stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $0.29 per share, with a total value of $116,000.00. Following the completion of the acquisition, the insider now directly owns 2,602,683 shares of the company’s stock, valued at approximately $754,778.07. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brent D. Baird acquired 167,242 shares of Rand Logistics stock in a transaction that occurred on Friday, October 13th. The stock was bought at an average cost of $0.34 per share, with a total value of $56,862.28. The disclosure for this purchase can be found here. Insiders purchased 867,242 shares of company stock valued at $259,862 in the last ninety days. Corporate insiders own 13.10% of the company’s stock.

A hedge fund recently raised its stake in Rand Logistics stock. Renaissance Technologies LLC raised its holdings in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,700 shares of the shipping company’s stock after acquiring an additional 17,100 shares during the quarter. Renaissance Technologies LLC owned 0.90% of Rand Logistics worth $107,000 as of its most recent filing with the Securities and Exchange Commission. 31.56% of the stock is currently owned by hedge funds and other institutional investors.

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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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