PAMT (NASDAQ:PAMT) Shares Up 0.4% – Here’s Why

PAMT Corp. (NASDAQ:PAMT) shares shot up 0.4% during trading on Wednesday . The stock traded as high as $12.99 and last traded at $12.59. 8,968 shares traded hands during trading, an increase of 17% from the average session volume of 7,667 shares. The stock had previously closed at $12.54.

Analysts Set New Price Targets

Separately, Stephens boosted their target price on PAMT from $12.50 to $13.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.00.

PAMT Trading Up 0.4%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.77 and a quick ratio of 1.75. The business’s 50 day moving average is $12.67 and its 200 day moving average is $13.08. The stock has a market cap of $263.51 million, a price-to-earnings ratio of -5.80 and a beta of 0.86.

PAMT (NASDAQ:PAMT) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.46) earnings per share (EPS) for the quarter. The business had revenue of $151.13 million for the quarter. PAMT had a negative return on equity of 8.41% and a negative net margin of 7.16%. As a group, equities analysts expect that PAMT Corp. will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PAMT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of PAMT in the 2nd quarter valued at $44,000. HHM Wealth Advisors LLC acquired a new position in shares of PAMT in the 2nd quarter valued at $50,000. JPMorgan Chase & Co. acquired a new position in PAMT in the second quarter valued at $88,000. Strs Ohio acquired a new position in PAMT in the first quarter valued at $100,000. Finally, Bank of America Corp DE acquired a new position in PAMT in the second quarter valued at $159,000. 22.06% of the stock is owned by institutional investors and hedge funds.

About PAMT

PAMT Corp. is a holding company, which engages in the provision of truckload and logistics services through its subsidiaries. Its freight consists primarily of automotive parts, expedited goods, consumer goods, such as general retail store merchandise, and manufactured goods, such as heating and air conditioning units.