Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Update

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 3,109,566 shares, a growth of 132.1% from the July 30th total of 1,339,860 shares. Based on an average trading volume of 1,085,724 shares, the short-interest ratio is currently 2.9 days. Approximately 12.9% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms have weighed in on PAL. Barrington Research set a $12.00 target price on Proficient Auto Logistics in a report on Tuesday, August 11th. Wall Street Zen raised shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research lowered shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock traded down $0.24 during midday trading on Friday, hitting $5.13. 590,745 shares of the company’s stock were exchanged, compared to its average volume of 850,235. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The stock has a 50-day moving average price of $6.53 and a two-hundred day moving average price of $6.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $143.90 million, a P/E ratio of -3.64 and a beta of 1.25.

Insider Activity at Proficient Auto Logistics

In related news, Director Rohit Lal purchased 40,000 shares of Proficient Auto Logistics stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the completion of the transaction, the director owned 61,903 shares in the company, valued at $336,133.29. This trade represents a 182.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 54,995 shares of company stock valued at $300,222 over the last three months. 14.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Proficient Auto Logistics during the second quarter worth about $11,013,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter valued at about $7,322,000. Royce & Associates LP purchased a new position in shares of Proficient Auto Logistics during the 4th quarter valued at about $5,835,000. De Lisle Partners LLP bought a new stake in Proficient Auto Logistics in the 2nd quarter worth approximately $3,914,000. Finally, Empowered Funds LLC purchased a new stake in Proficient Auto Logistics in the second quarter worth approximately $1,573,000.

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.