Proficient Auto Logistics (NASDAQ:PAL) Director Acquires $217,200.00 in Stock

Key Points

• Director Rohit Lal purchased 40,000 PAL shares for $217,200 at an average price of $5.43, increasing his position by 182.62% to 61,903 shares. He also bought an additional 10,000 shares for $55,300 the following day.
• Proficient Auto Logistics shares traded at $5.50, near the company’s 52-week low of $4.85 and well below its 50-day and 200-day moving averages of about $7.00.
• Analyst sentiment is mixed, with two Buy, one Hold, and two Sell ratings; the consensus rating is Hold with a $12.00 target price.

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) Director Rohit Lal bought 40,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the purchase, the director owned 61,903 shares in the company, valued at $336,133.29. This represents a 182.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rohit Lal also recently made the following trade(s):

• On Friday, August 14th, Rohit Lal bought 10,000 shares of Proficient Auto Logistics stock. The stock was purchased at an average cost of $5.53 per share, with a total value of $55,300.00.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL traded up $0.02 on Friday, reaching $5.50. 703,099 shares of the company's stock were exchanged, compared to its average volume of 607,984. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $7.02 and a 200-day moving average of $7.01. Proficient Auto Logistics, Inc. has a 52-week low of $4.85 and a 52-week high of $10.97.

Wall Street Analyst Weigh In

PAL has been the topic of several analyst reports. Weiss Ratings cut shares of Proficient Auto Logistics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen downgraded shares of Proficient Auto Logistics from a "hold" rating to a "sell" rating in a research report on Sunday, August 2nd. Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday. Finally, Zacks Research cut shares of Proficient Auto Logistics from a "hold" rating to a "strong sell" rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.00.

Institutional Trading of Proficient Auto Logistics

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company's stock valued at $31,000 after buying an additional 1,975 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Proficient Auto Logistics during the second quarter worth about $49,000. Jones Financial Companies Lllp purchased a new position in shares of Proficient Auto Logistics during the first quarter worth about $73,000. Odyssean LLC acquired a new position in Proficient Auto Logistics in the 4th quarter valued at about $98,000. Finally, Invesco Ltd. acquired a new position in Proficient Auto Logistics in the 4th quarter valued at about $101,000.

Proficient Auto Logistics Company Profile

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.

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