Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) Sees Large Growth in Short Interest

Radiant Logistics, Inc. (NYSEAMERICAN:RLGT) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 595,919 shares, an increase of 40.5% from the January 15th total of 424,169 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 119,365 shares, the days-to-cover ratio is currently 5.0 days. Based on an average trading volume of 119,365 shares, the days-to-cover ratio is currently 5.0 days. Currently, 1.7% of the shares of the company are sold short.

Radiant Logistics Trading Down 3.7%

Shares of RLGT opened at $7.33 on Tuesday. The business’s 50-day moving average price is $6.77 and its 200 day moving average price is $6.36. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $343.26 million, a P/E ratio of 25.28 and a beta of 0.74. Radiant Logistics has a 1-year low of $5.44 and a 1-year high of $8.50.

Radiant Logistics (NYSEAMERICAN:RLGT) last announced its earnings results on Monday, February 9th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.09 by $0.08. Radiant Logistics had a net margin of 1.57% and a return on equity of 11.05%. The company had revenue of $232.13 million during the quarter, compared to analysts’ expectations of $242.08 million.

Institutional Trading of Radiant Logistics

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Radiant Logistics by 45.4% during the third quarter. BNP Paribas Financial Markets now owns 12,822 shares of the company’s stock valued at $76,000 after buying an additional 4,001 shares in the last quarter. Williams & Novak LLC acquired a new stake in Radiant Logistics during the 4th quarter worth about $78,000. Boothbay Fund Management LLC grew its stake in Radiant Logistics by 33.3% during the 2nd quarter. Boothbay Fund Management LLC now owns 14,306 shares of the company’s stock valued at $87,000 after acquiring an additional 3,572 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Radiant Logistics during the 1st quarter valued at about $89,000. Finally, Algert Global LLC acquired a new position in shares of Radiant Logistics in the 3rd quarter valued at about $89,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Lake Street Capital restated a “buy” rating and issued a $9.00 target price on shares of Radiant Logistics in a research note on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Radiant Logistics in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.00.

About Radiant Logistics

Radiant Logistics, Inc, through its subsidiaries, is a third-party logistics (3PL) provider offering freight brokerage, managed transportation, contract logistics and supply chain solutions. The company arranges full-truckload (FTL), less-than-truckload (LTL), intermodal, ocean and air freight across multiple geographies. Radiant also provides customs brokerage, trade compliance services and warehousing support, serving industries such as manufacturing, retail, energy and automotive.

Founded in 2005 and headquartered in Green Bay, Wisconsin, Radiant Logistics has grown its network of client-facing offices throughout North America, with additional service centers in Europe and the Asia Pacific region.