PAMT (NASDAQ:PAMT) Stock Price Up 6.3% – Here’s Why

PAMT Corp. (NASDAQ:PAMT) shot up 6.3% on Friday . The stock traded as high as $14.10 and last traded at $14.10. 16,607 shares changed hands during trading, a decline of 12% from the average daily volume of 18,927 shares. The stock had previously closed at $13.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings raised PAMT from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen downgraded shares of PAMT from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PAMT currently has a consensus rating of “Reduce” and a consensus target price of $13.00.

PAMT Trading Up 6.3%

The business’s 50-day moving average price is $12.97 and its 200-day moving average price is $11.40. The firm has a market capitalization of $295.25 million, a PE ratio of -6.62 and a beta of 1.06. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.30 and a quick ratio of 1.28.

PAMT (NASDAQ:PAMT) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.46) earnings per share for the quarter. PAMT had a negative return on equity of 15.16% and a negative net margin of 7.61%.The business had revenue of $141.88 million for the quarter.

Hedge Funds Weigh In On PAMT

Institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC raised its stake in PAMT by 14.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 202,036 shares of the company’s stock valued at $2,441,000 after acquiring an additional 25,108 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of PAMT by 7.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 193,880 shares of the company’s stock valued at $2,342,000 after purchasing an additional 14,244 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of PAMT in the second quarter valued at approximately $1,912,000. Empowered Funds LLC raised its stake in shares of PAMT by 9.7% during the first quarter. Empowered Funds LLC now owns 90,870 shares of the company’s stock worth $768,000 after purchasing an additional 8,054 shares during the last quarter. Finally, State Street Corp raised its stake in shares of PAMT by 2.0% during the fourth quarter. State Street Corp now owns 62,152 shares of the company’s stock worth $751,000 after purchasing an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

About PAMT

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.