Rohit Lal Purchases 10,000 Shares of Proficient Auto Logistics (NASDAQ:PAL) Stock

Key Points

• Director Rohit Lal bought 10,000 PAL shares at an average price of $5.53, investing $55,300 and increasing his holdings by 16.15% to 71,903 shares. He also purchased 40,000 shares the previous day for $217,200.
• Proficient Auto Logistics shares closed at $5.50, near their 52-week low of $4.85 and well below the 50-day and 200-day moving averages of about $7.01–$7.02.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $12.00 average price target; two analysts rate the stock Buy, one Hold, and two Sell.

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) Director Rohit Lal bought 10,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the purchase, the director owned 71,903 shares of the company's stock, valued at approximately $397,623.59. The trade was a 16.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, August 13th, Rohit Lal purchased 40,000 shares of Proficient Auto Logistics stock. The shares were acquired at an average cost of $5.43 per share, with a total value of $217,200.00.

Proficient Auto Logistics Trading Up 0.4%

PAL traded up $0.02 during trading hours on Friday, reaching $5.50. 703,099 shares of the company's stock traded hands, compared to its average volume of 607,984. The firm has a 50-day moving average price of $7.02 and a 200 day moving average price of $7.01. Proficient Auto Logistics, Inc. has a 52-week low of $4.85 and a 52-week high of $10.97. 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 firm has a market capitalization of $152.74 million, a PE ratio of -3.90 and a beta of 1.25.

Institutional Investors Weigh In On Proficient Auto Logistics

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in shares of Proficient Auto Logistics by 15.0% during the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company's stock worth $95,000 after buying an additional 1,800 shares in the last quarter. 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 acquiring an additional 1,975 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Proficient Auto Logistics by 32.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company's stock worth $151,000 after acquiring an additional 3,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Proficient Auto Logistics by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock worth $105,000 after acquiring an additional 3,866 shares during the period. Finally, Persistent Asset Partners Ltd bought a new position in Proficient Auto Logistics during the 2nd quarter worth about $49,000.

Wall Street Analyst Weigh In

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

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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