PAMT Corp. (NASDAQ:PAMT) Sees Significant Growth in Short Interest
by Sarita Garza · The Markets DailyPAMT Corp. (NASDAQ:PAMT – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 74,525 shares, a growth of 46.4% from the February 26th total of 50,903 shares. Based on an average daily trading volume, of 22,005 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.4% of the company’s shares are short sold.
PAMT Trading Down 2.3%
Shares of PAMT traded down $0.19 during trading hours on Friday, hitting $8.19. The stock had a trading volume of 9,761 shares, compared to its average volume of 24,100. The company’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $10.86. PAMT has a 12-month low of $7.15 and a 12-month high of $17.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.21 and a current ratio of 1.23. The firm has a market cap of $171.38 million, a P/E ratio of -3.28 and a beta of 0.79.
PAMT (NASDAQ:PAMT – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.45) earnings per share for the quarter. The business had revenue of $141.32 million for the quarter. PAMT had a negative net margin of 8.80% and a negative return on equity of 13.58%. Equities research analysts forecast that PAMT will post 0.85 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PAMT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in PAMT during the 2nd quarter valued at $44,000. Russell Investments Group Ltd. lifted its holdings in PAMT by 841.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,699 shares of the company’s stock worth $57,000 after buying an additional 4,200 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in PAMT in the 2nd quarter valued at about $88,000. Strs Ohio purchased a new position in PAMT in the 1st quarter valued at about $100,000. Finally, Bank of America Corp DE acquired a new stake in shares of PAMT during the second quarter valued at about $159,000. 22.06% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on PAMT. Wall Street Zen cut PAMT from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of PAMT in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $13.00.
Get Our Latest Analysis on PAMT
PAMT Company Profile
PAM Transportation Services, Inc (NASDAQ: PAMT) is a specialized truckload carrier and logistics provider headquartered in Tontitown, Arkansas. Established in 1980, the company offers full truckload and dedicated transportation services across North America. PAMT’s freight network is configured to handle both temperature-controlled and dry goods, catering to clients in the food and beverage, retail, consumer packaged goods and industrial sectors.
The company operates a fleet of company-owned tractors and trailers, supported by a network of terminal locations and drop-yard facilities.