Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Up 19.8% in December

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,396,943 shares, an increase of 19.8% from the December 15th total of 1,166,337 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average trading volume of 160,297 shares, the short-interest ratio is presently 8.7 days. Based on an average trading volume of 160,297 shares, the short-interest ratio is presently 8.7 days. Currently, 5.8% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms recently commented on PAL. Barrington Research reissued an “outperform” rating and issued a $12.00 target price on shares of Proficient Auto Logistics in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Proficient Auto Logistics in a report on Wednesday, October 8th. Finally, Stifel Nicolaus raised their target price 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Proficient Auto Logistics currently has a consensus rating of “Hold” and an average price target of $12.00.

Proficient Auto Logistics Stock Performance

NASDAQ PAL traded down $0.02 during trading hours on Monday, hitting $9.99. The company had a trading volume of 218,796 shares, compared to its average volume of 158,499. The business has a 50 day moving average of $9.10 and a 200-day moving average of $7.83. The company has a market cap of $278.02 million, a PE ratio of -499.50, a price-to-earnings-growth ratio of 2.00 and a beta of 2.18. Proficient Auto Logistics has a 1-year low of $5.76 and a 1-year 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.

Insider Buying and Selling at Proficient Auto Logistics

In other news, Director John Skiadas sold 18,270 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $7.27, for a total value of $132,822.90. Following the sale, the director directly owned 1,852,597 shares in the company, valued at approximately $13,468,380.19. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 75,000 shares of company stock worth $548,429 over the last 90 days. 13.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 during 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 period. Dynamic Technology Lab Private Ltd purchased a new stake in Proficient Auto Logistics in the 1st quarter valued at $215,000. Jones Financial Companies Lllp acquired a new stake in Proficient Auto Logistics during the 1st quarter worth $73,000. Finally, Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 61,272 shares during the period.

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.