PAMT Corp. (NASDAQ:PAMT) Sees Significant Growth in Short Interest

PAMT Corp. (NASDAQ:PAMT) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 74,525 shares, an increase of 46.4% from the February 26th total of 50,903 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 22,005 shares, the short-interest ratio is presently 3.4 days.

PAMT Stock Down 2.3%

Shares of NASDAQ PAMT traded down $0.19 during trading hours on Friday, hitting $8.19. The company had a trading volume of 9,761 shares, compared to its average volume of 24,100. PAMT has a 1-year low of $7.15 and a 1-year high of $17.29. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average is $10.51 and its 200-day moving average is $10.87. The stock has a market capitalization of $171.42 million, a P/E ratio of -3.28 and a beta of 0.79.

PAMT (NASDAQ:PAMT) last issued its earnings results on Thursday, February 19th. The company reported ($0.45) earnings per share for the quarter. The firm had revenue of $141.32 million for the quarter. PAMT had a negative return on equity of 13.58% and a negative net margin of 8.80%. On average, analysts expect that PAMT will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAMT

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in PAMT by 2.0% during the fourth quarter. State Street Corp now owns 62,152 shares of the company’s stock worth $751,000 after purchasing an additional 1,208 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of PAMT in the second quarter valued at approximately $44,000. Russell Investments Group Ltd. lifted its position in shares of PAMT by 841.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,699 shares of the company’s stock valued at $57,000 after buying an additional 4,200 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of PAMT by 3.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 176,928 shares of the company’s stock worth $2,017,000 after acquiring an additional 5,797 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in shares of PAMT during the 2nd quarter worth approximately $88,000. 22.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on PAMT shares. Weiss Ratings restated a “sell (e+)” rating on shares of PAMT in a research note on Monday, December 29th. Wall Street Zen downgraded PAMT from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PAMT has a consensus rating of “Reduce” and an average price target of $13.00.

About PAMT

PAM Transportation Services, Inc (NASDAQ: PAMT) is a specialized truckload carrier and logistics provider headquartered in Tontitown, Arkansas. Established in 1980, the company offers full truckload and dedicated transportation services across North America. PAMT’s freight network is configured to handle both temperature-controlled and dry goods, catering to clients in the food and beverage, retail, consumer packaged goods and industrial sectors.

The company operates a fleet of company-owned tractors and trailers, supported by a network of terminal locations and drop-yard facilities.