Short Interest in P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) Declines By 18.5%

P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 34,700 shares, a drop of 18.5% from the October 15th total of 42,600 shares. Based on an average daily trading volume, of 23,600 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.6% of the company’s stock are sold short.

Analysts Set New Price Targets

PTSI has been the subject of several analyst reports. StockNews.com downgraded P.A.M. Transportation Services from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Stephens reduced their price target on P.A.M. Transportation Services from $22.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

P.A.M. Transportation Services Stock Performance

P.A.M. Transportation Services has a twelve month low of $13.51 and a twelve month high of $22.88. The stock has a 50 day simple moving average of $17.22 and a 200-day simple moving average of $17.38. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 0.74.

P.A.M. Transportation Services (NASDAQ:PTSI) last released its quarterly earnings data on Thursday, October 24th. The transportation company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. P.A.M. Transportation Services had a negative return on equity of 0.79% and a negative net margin of 0.34%. The company had revenue of $182.58 million during the quarter. Analysts anticipate that P.A.M. Transportation Services will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On P.A.M. Transportation Services

Several large investors have recently bought and sold shares of PTSI. Vanguard Group Inc. grew its stake in shares of P.A.M. Transportation Services by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 342,117 shares of the transportation company’s stock valued at $5,546,000 after purchasing an additional 2,808 shares during the period. Empowered Funds LLC lifted its position in shares of P.A.M. Transportation Services by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 61,638 shares of the transportation company’s stock valued at $1,140,000 after buying an additional 3,082 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of P.A.M. Transportation Services by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 54,345 shares of the transportation company’s stock valued at $944,000 after buying an additional 701 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of P.A.M. Transportation Services during the 1st quarter valued at about $307,000. Finally, BNP Paribas Financial Markets lifted its position in shares of P.A.M. Transportation Services by 38.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,986 shares of the transportation company’s stock valued at $48,000 after buying an additional 837 shares in the last quarter. 22.06% of the stock is currently owned by institutional investors.

About P.A.M. Transportation Services

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.