Proficient Auto Logistics (NASDAQ:PAL) Downgraded to Sell Rating by Wall Street Zen

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other research analysts also recently commented on PAL. Barrington Research set a $10.00 price objective on Proficient Auto Logistics in a research note on Monday, May 11th. Zacks Research lowered shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Proficient Auto Logistics Price Performance

PAL stock traded up $0.31 during trading on Friday, hitting $6.97. The stock had a trading volume of 217,678 shares, compared to its average volume of 285,282. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average price is $6.51 and its two-hundred day moving average price is $7.56. The stock has a market capitalization of $193.56 million, a P/E ratio of -5.24 and a beta of 1.27. Proficient Auto Logistics has a twelve month low of $4.85 and a twelve month high of $10.97.

Insider Buying and Selling

In related news, CEO Richard D. Odell sold 33,743 shares of Proficient Auto Logistics stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total transaction of $171,414.44. Following the transaction, the chief executive officer owned 964,099 shares in the company, valued at approximately $4,897,622.92. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 14.20% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after acquiring an additional 1,975 shares during the period. FNY Investment Advisers LLC grew its holdings in shares of Proficient Auto Logistics by 44.6% in the third quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock valued at $39,000 after purchasing an additional 1,789 shares during the period. Jones Financial Companies Lllp acquired a new stake in Proficient Auto Logistics during the first quarter worth about $73,000. Alliancebernstein L.P. increased its position in Proficient Auto Logistics by 15.0% during the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Odyssean LLC purchased a new position in Proficient Auto Logistics during the fourth quarter worth about $98,000.

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.