PAMT (NASDAQ:PAMT) Trading Up 2% - Here's What Happened

Key Points

• PAMT Corp.'s stock price increased by 2% to $12.57 amid reduced trading volume, with 5,627 shares exchanged which is a 48% decline from its average volume.
• Analysts have raised PAMT's price target from $12.50 to $13.00 and maintain a "Hold" rating, with the stock currently rated as "Hold" overall.
• The company reported a loss of ($0.46) earnings per share in its latest earnings results, with expected EPS for the current year at 0.85.

PAMT Corp. (NASDAQ:PAMT - Get Free Report) traded up 2% during trading on Wednesday . The company traded as high as $12.57 and last traded at $12.57. 5,627 shares traded hands during trading, a decline of 48% from the average session volume of 10,774 shares. The stock had previously closed at $12.32.

Wall Street Analysts Forecast Growth

Separately, Stephens increased their price objective on PAMT from $12.50 to $13.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, PAMT presently has an average rating of "Hold" and an average price target of $13.00.

PAMT Stock Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.75 and a current ratio of 1.77. The firm has a 50 day moving average price of $13.02 and a two-hundred day moving average price of $13.25. The company has a market capitalization of $263.51 million, a P/E ratio of -5.80 and a beta of 0.96.

PAMT (NASDAQ:PAMT - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported ($0.46) EPS for the quarter. The company had revenue of $151.13 million for the quarter. PAMT had a negative return on equity of 8.41% and a negative net margin of 7.16%. On average, research analysts expect that PAMT Corp. will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAMT

Several hedge funds and other institutional investors have recently made changes to their positions in PAMT. Bridgeway Capital Management LLC acquired a new stake in shares of PAMT during the second quarter worth $2,202,000. Geode Capital Management LLC bought a new stake in shares of PAMT in the second quarter valued at about $1,912,000. Goldman Sachs Group Inc. bought a new stake in shares of PAMT in the first quarter valued at about $705,000. MAI Capital Management bought a new stake in PAMT during the second quarter worth about $740,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in PAMT during the second quarter worth about $515,000. 22.06% of the stock is owned by institutional investors and hedge funds.

About PAMT

PAMT Corp. is a holding company, which engages in the provision of truckload and logistics services through its subsidiaries. Its freight consists primarily of automotive parts, expedited goods, consumer goods, such as general retail store merchandise, and manufactured goods, such as heating and air conditioning units.