Short Interest in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Expands By 25.7%

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

Proficient Auto Logistics Stock Down 2.0 %

Shares of NASDAQ PAL traded down $0.20 during mid-day trading on Tuesday, hitting $9.65. 155,671 shares of the stock traded hands, compared to its average volume of 270,303. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics has a 52 week low of $7.24 and a 52 week high of $21.01. The stock has a fifty day moving average price of $10.05 and a 200-day moving average price of $11.03.

Analyst Ratings Changes

PAL has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th. Stifel Nicolaus cut their price objective on Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Proficient Auto Logistics

Several hedge funds have recently made changes to their positions in PAL. Quantbot Technologies LP bought a new stake in shares of Proficient Auto Logistics during the fourth quarter valued at approximately $49,000. Wells Fargo & Company MN boosted its position in shares of Proficient Auto Logistics by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock valued at $70,000 after purchasing an additional 2,373 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Proficient Auto Logistics during the fourth quarter valued at approximately $90,000. Squarepoint Ops LLC bought a new stake in shares of Proficient Auto Logistics during the fourth quarter valued at approximately $96,000. Finally, Deutsche Bank AG bought a new stake in shares of Proficient Auto Logistics during the fourth quarter valued at approximately $120,000.

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.