Proficient Auto Logistics, Inc. (NASDAQ:PAL) Sees Significant Decline in Short Interest

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,150,818 shares, a decrease of 19.9% from the January 15th total of 1,437,290 shares. Based on an average trading volume of 153,124 shares, the days-to-cover ratio is currently 7.5 days. Currently, 4.8% of the company’s stock are sold short. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 153,124 shares, the days-to-cover ratio is currently 7.5 days.

Proficient Auto Logistics Stock Performance

PAL traded up $0.28 on Tuesday, reaching $7.33. The company had a trading volume of 235,298 shares, compared to its average volume of 289,026. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics has a 1 year low of $5.76 and a 1 year high of $11.10. The stock has a market capitalization of $203.99 million, a PE ratio of -6.01, a P/E/G ratio of 2.19 and a beta of 2.18. The stock has a 50-day moving average price of $9.70 and a 200-day moving average price of $8.13.

Insider Activity

In related news, Director John Skiadas sold 18,270 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $7.27, for a total transaction of $132,822.90. Following the completion of the transaction, the director directly owned 1,852,597 shares of the company’s stock, valued at $13,468,380.19. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 75,000 shares of company stock valued at $548,429 in the last 90 days. 13.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PAL. Boston Partners boosted its holdings in shares of Proficient Auto Logistics by 47.9% in the second quarter. Boston Partners now owns 2,141,012 shares of the company’s stock valued at $15,540,000 after acquiring an additional 693,225 shares during the period. Royce & Associates LP purchased a new stake in Proficient Auto Logistics in the 4th quarter valued at $5,835,000. Optimize Financial Inc acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth $2,225,000. Brightlight Capital Management LP purchased a new position in Proficient Auto Logistics during the 3rd quarter worth $1,999,000. Finally, American Century Companies Inc. grew its position in Proficient Auto Logistics by 18.2% during the 2nd quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock worth $13,038,000 after purchasing an additional 276,269 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stifel Nicolaus increased their target price on Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.00.

About Proficient Auto Logistics

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.