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

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a large increase in short interest in the month of 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. Approximately 5.8% of the shares of the company are short sold. Based on an average daily trading volume, of 160,297 shares, the days-to-cover ratio is currently 8.7 days. Based on an average daily trading volume, of 160,297 shares, the days-to-cover ratio is currently 8.7 days. Approximately 5.8% of the shares of the company are short sold.

Analyst Ratings Changes

PAL has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, October 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock opened at $9.48 on Wednesday. The stock has a market capitalization of $263.83 million, a P/E ratio of -474.00, a P/E/G ratio of 2.00 and a beta of 2.18. The company’s fifty day moving average price is $9.22 and its 200 day moving average price is $7.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. Proficient Auto Logistics has a 1 year low of $5.76 and a 1 year high of $11.37.

Insider Activity

In other news, Director John Skiadas sold 41,100 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $7.34, for a total value of $301,674.00. Following the sale, the director owned 1,870,867 shares in the company, valued at $13,732,163.78. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $548,429. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Boston Partners boosted its holdings in Proficient Auto Logistics by 47.9% in the 2nd quarter. Boston Partners now owns 2,141,012 shares of the company’s stock worth $15,540,000 after buying an additional 693,225 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Proficient Auto Logistics by 18.2% in the second quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock valued at $13,038,000 after acquiring an additional 276,269 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Proficient Auto Logistics by 138.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock worth $884,000 after acquiring an additional 61,272 shares during the last quarter. AYAL Capital Advisors Ltd boosted its stake in shares of Proficient Auto Logistics by 30.3% in the second quarter. AYAL Capital Advisors Ltd now owns 590,700 shares of the company’s stock worth $4,288,000 after acquiring an additional 137,241 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Proficient Auto Logistics by 25.7% during the second quarter. First Eagle Investment Management LLC now owns 516,473 shares of the company’s stock worth $3,750,000 after purchasing an additional 105,725 shares in the last quarter.

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.