Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Up 132.1% in August

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant growth in short interest in 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. Currently, 12.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

PAL has been the subject of several analyst reports. Weiss Ratings raised Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Stifel Nicolaus increased their price objective on Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Proficient Auto Logistics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Barrington Research set a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Proficient Auto Logistics presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Proficient Auto Logistics Price Performance

Shares of Proficient Auto Logistics stock traded down $0.24 on Friday, reaching $5.13. The stock had a trading volume of 590,745 shares, compared to its average volume of 379,170. The business’s 50 day moving average is $6.58 and its two-hundred day moving average is $6.69. Proficient Auto Logistics has a 1 year low of $4.85 and a 1 year high of $10.97. The company has a market cap of $143.91 million, a P/E ratio of -3.64 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17.

Insider Activity at Proficient Auto Logistics

In other news, Director Rohit Lal bought 10,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $5.53 per share, with a total value of $55,300.00. Following the acquisition, the director owned 71,903 shares in the company, valued at $397,623.59. This trade represents a 16.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 54,995 shares of company stock valued at $300,222. Corporate insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Proficient Auto Logistics by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after acquiring an additional 3,866 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Proficient Auto Logistics by 5.9% during the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after acquiring an additional 35,335 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Proficient Auto Logistics during the first quarter valued at $215,000. Jones Financial Companies Lllp bought a new position in shares of Proficient Auto Logistics during the 1st quarter valued at approximately $73,000. Finally, Goldman Sachs Group Inc. increased 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 purchasing an additional 61,272 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.