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

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 155,700 shares, a decline of 27.2% from the August 15th total of 213,800 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 205,900 shares, the short-interest ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on PAL. William Blair began coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They issued an “outperform” rating on the stock. Stifel Nicolaus began coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They issued a “buy” rating and a $19.00 price target on the stock. Barrington Research started coverage on shares of Proficient Auto Logistics in a research note on Wednesday, July 17th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Raymond James upped their target price on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, August 12th.

Proficient Auto Logistics Trading Down 0.9 %

Shares of NASDAQ PAL traded down $0.15 during mid-day trading on Friday, hitting $16.99. 205,844 shares of the company’s stock traded hands, compared to its average volume of 188,036. The business has a 50-day moving average of $18.61. Proficient Auto Logistics has a 1 year low of $14.50 and a 1 year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. Proficient Auto Logistics’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that Proficient Auto Logistics will post 0.84 EPS for the current fiscal year.

Insider Activity

In other news, Director James B. Gattoni bought 20,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth $176,000. Federated Hermes Inc. purchased a new stake in Proficient Auto Logistics in the second quarter worth about $257,000. Blair William & Co. IL purchased a new stake in Proficient Auto Logistics in the second quarter worth about $660,000. Marshall Wace LLP bought a new position in Proficient Auto Logistics during the 2nd quarter worth about $1,082,000. Finally, Emerald Advisers LLC purchased a new position in Proficient Auto Logistics during the 2nd quarter valued at about $1,172,000.

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.