Proficient Auto Logistics, Inc. (NASDAQ:PAL) Sees Large Increase in Short Interest

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,860,000 shares, a growth of 25.7% from the February 13th total of 1,480,000 shares. Based on an average daily trading volume, of 250,400 shares, the days-to-cover ratio is presently 7.4 days. Approximately 8.9% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAL. Stifel Nicolaus reduced their price objective on Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a report on Wednesday, February 12th.

Institutional Trading of Proficient Auto Logistics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Proficient Auto Logistics in the fourth quarter worth about $49,000. Wells Fargo & Company MN raised its holdings in Proficient Auto Logistics by 37.9% during the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock valued at $70,000 after buying an additional 2,373 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Proficient Auto Logistics during the 4th quarter worth about $90,000. Squarepoint Ops LLC bought a new position in shares of Proficient Auto Logistics during the fourth quarter valued at approximately $96,000. Finally, Deutsche Bank AG purchased a new stake in Proficient Auto Logistics in the fourth quarter worth $120,000.

Proficient Auto Logistics Price Performance

Shares of PAL traded up $0.08 during trading hours on Monday, hitting $9.90. The company had a trading volume of 189,885 shares, compared to its average volume of 270,632. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $10.03 and a 200-day moving average price of $11.09. Proficient Auto Logistics has a 52-week low of $7.24 and a 52-week high of $21.01.

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.