PAMT (NASDAQ:PAMT) Shares Up 4% – Here’s What Happened

PAMT Corp. (NASDAQ:PAMT) shares shot up 4% during mid-day trading on Thursday . The stock traded as high as $14.22 and last traded at $14.22. 2,846 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 12,909 shares. The stock had previously closed at $13.67.

Wall Street Analyst Weigh In

Separately, Stephens lifted their price objective on PAMT from $11.00 to $12.50 and gave the company an “equal weight” rating in a research note on Monday, April 28th.

PAMT Trading Up 4.0%

The company’s 50 day moving average price is $13.44. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. The company has a market cap of $309.85 million, a price-to-earnings ratio of -7.73 and a beta of 0.93.

PAMT (NASDAQ:PAMT) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.37) earnings per share (EPS) for the quarter. PAMT had a negative net margin of 5.85% and a negative return on equity of 5.65%. The business had revenue of $155.34 million during the quarter. Equities analysts forecast that PAMT Corp. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of PAMT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAMT. Goldman Sachs Group Inc. acquired a new stake in PAMT during the first quarter worth approximately $705,000. Rhumbline Advisers acquired a new stake in PAMT during the first quarter worth approximately $189,000. Finally, Strs Ohio acquired a new position in PAMT during the first quarter worth approximately $100,000. Institutional investors and hedge funds own 22.06% of the company’s stock.

About PAMT

PAMT Corp. is a holding company, which engages in the provision of truckload and logistics services through its subsidiaries. Its freight consists primarily of automotive parts, expedited goods, consumer goods, such as general retail store merchandise, and manufactured goods, such as heating and air conditioning units.