Rand Logistics, Inc. (NASDAQ:RLOG)’s share price was down 5.6% during trading on Tuesday . The company traded as low as $0.65 and last traded at $0.67. 1,888,200 shares were traded during trading, an increase of 92% from the average session volume of 982,231 shares. The stock had previously closed at $0.71.

Separately, ValuEngine upgraded Rand Logistics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 7th.

Rand Logistics (NASDAQ:RLOG) last posted its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.41). Rand Logistics had a negative return on equity of 160.74% and a negative net margin of 18.21%. The firm had revenue of $32.34 million during the quarter.

In related news, major shareholder Brent D. Baird purchased 167,242 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were bought at an average price of $0.34 per share, for a total transaction of $56,862.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brent D. Baird purchased 400,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was bought at an average price of $0.29 per share, for a total transaction of $116,000.00. Following the acquisition, the insider now owns 2,602,683 shares in the company, valued at $754,778.07. The disclosure for this purchase can be found here. Insiders have bought 867,242 shares of company stock valued at $259,862 in the last quarter. Insiders own 13.10% of the company’s stock.

A hedge fund recently raised its stake in Rand Logistics stock. Renaissance Technologies LLC increased its position in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,700 shares of the shipping company’s stock after buying an additional 17,100 shares during the period. Renaissance Technologies LLC owned about 0.90% of Rand Logistics worth $107,000 at the end of the most recent reporting period. Institutional investors own 31.56% of the company’s stock.

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Rand Logistics Company Profile

Rand Logistics, Inc is a shipping company that, through its operating subsidiaries, is engaged in the operation of bulk carriers on the Great Lakes. The Company’s shipping business is operated in Canada by Lower Lakes Towing Ltd. (Lower Lakes Towing) and in the United States by Lower Lakes Transportation Company (Lower Lakes Transportation).

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