Proficient Auto Logistics, Inc.’s (NASDAQ:PAL) Lock-Up Period To Expire on November 5th

Proficient Auto Logistics’ (NASDAQ:PAL) lock-up period is set to expire on Tuesday, November 5th. Proficient Auto Logistics had issued 14,333,333 shares in its initial public offering on May 9th. The total size of the offering was $214,999,995 based on an initial share price of $15.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barrington Research cut their price target on shares of Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus reduced their target price on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Raymond James decreased their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 14th.

Proficient Auto Logistics Trading Up 0.8 %

Proficient Auto Logistics stock opened at $8.40 on Tuesday. The firm has a 50 day simple moving average of $14.19. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. Proficient Auto Logistics has a 1-year low of $8.06 and a 1-year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. Proficient Auto Logistics’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that Proficient Auto Logistics will post 0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $379,600. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Proficient Auto Logistics in the third quarter valued at approximately $104,000. XTX Topco Ltd bought a new stake in Proficient Auto Logistics during the 2nd quarter valued at $176,000. Nicholas Hoffman & Company LLC. bought a new stake in Proficient Auto Logistics during the 3rd quarter valued at $177,000. Federated Hermes Inc. purchased a new stake in Proficient Auto Logistics during the 2nd quarter valued at $257,000. Finally, Blair William & Co. IL bought a new stake in Proficient Auto Logistics in the 2nd quarter worth $660,000.

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.