There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for PAL is 18.11M and currently, short sellers hold a 1.36% ratio of that float. The average trading volume of PAL on June 19, 2024 was 275.26K shares.
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PAL) stock’s latest price update
The stock price of Proficient Auto Logistics Inc. (NASDAQ: PAL) has surged by 1.26 when compared to previous closing price of 15.06, but the company has seen a 2.21% gain in its stock price over the last five trading sessions. businesswire.com reported 2024-06-18 that JACKSONVILLE, Fla.–(BUSINESS WIRE)–Proficient Auto Logistics, Inc. (NASDAQ: PAL) today reported the financial results for the three months ended March 31, 2024 for Proficient Auto Logistics, Inc. (“Proficient”), Proficient Auto Transport, Inc. (“Proficient Transport”) and for the five Founding Companies (as defined below) on a combined basis. On May 13, 2024, Proficient completed the initial public offering (the “IPO”) of its common stock. Prior to the IPO, Proficient had entered into agreeme.
PAL’s Market Performance
The volatility ratio for the week is 5.49% while the volatility levels for the last 30 days are 2.78% for Proficient Auto Logistics Inc. The simple moving average for the past 20 days is 1.28% for PAL’s stock, with a 1.37% simple moving average for the past 200 days.
Analysts’ Opinion of PAL
Stifel, on the other hand, stated in their research note that they expect to see PAL reach a price target of $19. The rating they have provided for PAL stocks is “Buy” according to the report published on June 03rd, 2024.
Raymond James gave a rating of “Outperform” to PAL, setting the target price at $18 in the report published on June 03rd of the current year.
PAL Trading at 1.37% from the 50-Day Moving Average
After a stumble in the market that brought PAL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.10% of loss for the given period.
Volatility was left at 2.78%, however, over the last 30 days, the volatility rate increased by 5.49%, as shares surge +2.35% for the moving average over the last 20 days.
During the last 5 trading sessions, PAL rose by +2.21%, in comparison to the 20-day moving average, which settled at $15.08. In addition, Proficient Auto Logistics Inc. saw 3.39% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PAL starting from Schraudenbach John, who purchase 10,000 shares at the price of $15.00 back on May 13 ’24. After this action, Schraudenbach John now owns 10,000 shares of Proficient Auto Logistics Inc., valued at $150,000 using the latest closing price.
COL DOUGLAS L, the Director of Proficient Auto Logistics Inc., purchase 10,000 shares at $15.00 during a trade that took place back on May 13 ’24, which means that COL DOUGLAS L is holding 29,125 shares at $150,000 based on the most recent closing price.
Conclusion
In conclusion, Proficient Auto Logistics Inc. (PAL) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
