Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Declines By 27.2%

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 155,700 shares, a decrease of 27.2% from the August 15th total of 213,800 shares. Based on an average trading volume of 205,900 shares, the short-interest ratio is currently 0.8 days. Currently, 0.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PAL shares. Barrington Research started coverage on Proficient Auto Logistics in a research report on Wednesday, July 17th. They issued an “outperform” rating and a $22.00 price objective on the stock. William Blair began coverage on Proficient Auto Logistics in a report on Monday, June 3rd. They set an “outperform” rating on the stock. Stifel Nicolaus began coverage on Proficient Auto Logistics in a report on Monday, June 3rd. They set a “buy” rating and a $19.00 price target on the stock. Finally, Raymond James increased their price target on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 12th.

Proficient Auto Logistics Trading Down 1.1 %

PAL traded down $0.18 on Monday, hitting $16.81. The company had a trading volume of 81,940 shares, compared to its average volume of 186,830. Proficient Auto Logistics has a 12-month low of $14.50 and a 12-month high of $21.01. The company’s fifty day moving average is $18.61.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. The company had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Proficient Auto Logistics will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James B. Gattoni purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $379,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

Several institutional investors have recently bought and sold shares of the business. Ghisallo Capital Management LLC purchased a new position in Proficient Auto Logistics during the second quarter valued at approximately $3,212,000. Millennium Management LLC purchased a new stake in Proficient Auto Logistics during the 2nd quarter valued at about $14,446,000. AYAL Capital Advisors Ltd purchased a new stake in Proficient Auto Logistics during the 2nd quarter valued at about $5,220,000. Marshall Wace LLP purchased a new stake in Proficient Auto Logistics during the 2nd quarter valued at about $1,082,000. Finally, Hood River Capital Management LLC purchased a new stake in Proficient Auto Logistics during the 2nd quarter valued at about $5,600,000.

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.