Proficient Auto Logistics (NASDAQ:PAL) Director Steven Lux Buys 6,000 Shares of Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) Director Steven Lux bought 6,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were bought at an average price of $4.01 per share, for a total transaction of $24,060.00. Following the completion of the acquisition, the director owned 617,957 shares of the company’s stock, valued at approximately $2,478,007.57. This represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Proficient Auto Logistics Stock Down 2.3%

Shares of NASDAQ:PAL traded down $0.09 on Wednesday, reaching $3.87. The company had a trading volume of 640,943 shares, compared to its average volume of 421,255. Proficient Auto Logistics, Inc. has a twelve month low of $3.60 and a twelve month high of $10.97. The stock has a 50-day moving average price of $5.82 and a 200 day moving average price of $6.33. The stock has a market capitalization of $108.55 million, a P/E ratio of -2.74 and a beta of 1.15. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stifel Nicolaus upped their target price on Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.00.

Institutional Trading of Proficient Auto Logistics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in Proficient Auto Logistics during the 2nd quarter valued at $399,000. Squarepoint Ops LLC acquired a new stake in Proficient Auto Logistics in the 2nd quarter worth $173,000. VELA Investment Management LLC grew its position in Proficient Auto Logistics by 23.8% in the 2nd quarter. VELA Investment Management LLC now owns 510,840 shares of the company’s stock worth $3,479,000 after purchasing an additional 98,235 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Proficient Auto Logistics during the 2nd quarter worth about $492,000. Finally, Empowered Funds LLC bought a new position in shares of Proficient Auto Logistics during the 2nd quarter worth about $1,573,000.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc is a vehicle transportation and logistics company that moves finished automobiles for automotive manufacturers, dealerships, auctions and other customers. The company focuses primarily on transporting vehicles between manufacturing plants, distribution centers, rail facilities, ports, dealerships and end destinations.

Proficient Auto Logistics operates through a network of regional auto transport businesses and provides services including vehicle pickup, long-haul transportation, delivery coordination and related logistics support.