Proficient Auto Logistics (NASDAQ:PAL) Stock Price Up 1.9% - Time to Buy?

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) shot up 1.9% during trading on Wednesday . The company traded as high as $7.69 and last traded at $7.62. 95,745 shares changed hands during trading, a decline of 64% from the average session volume of 268,014 shares. The stock had previously closed at $7.48.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered their price objective on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

Proficient Auto Logistics Trading Up 4.6%

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $7.56 and its 200 day moving average is $8.69.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Proficient Auto Logistics had a negative net margin of 3.49% and a negative return on equity of 2.05%. The company had revenue of $95.21 million for the quarter, compared to analyst estimates of $94.65 million. Sell-side analysts predict that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard D. Odell sold 49,300 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the sale, the chief executive officer directly owned 836,172 shares of the company's stock, valued at $6,890,057.28. This trade represents a 5.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its position 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 worth $70,000 after purchasing an additional 2,373 shares in the last quarter. Corebridge Financial Inc. grew its position in Proficient Auto Logistics by 33.6% during the 1st quarter. Corebridge Financial Inc. now owns 10,409 shares of the company's stock worth $87,000 after purchasing an additional 2,619 shares in the last quarter. Victory Capital Management Inc. grew its position in Proficient Auto Logistics by 29.0% during the 1st quarter. Victory Capital Management Inc. now owns 14,345 shares of the company's stock worth $120,000 after purchasing an additional 3,225 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Proficient Auto Logistics by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company's stock valued at $272,000 after buying an additional 3,287 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Proficient Auto Logistics by 2.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 121,687 shares of the company's stock valued at $1,019,000 after buying an additional 3,342 shares during the period.

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.