Rand Logistics, Inc. (NASDAQ:RLOG) saw an uptick in trading volume on Wednesday . 725,513 shares were traded during trading, an increase of 40% from the previous session’s volume of 516,925 shares.The stock last traded at $0.35 and had previously closed at $0.34.
The stock’s 50-day moving average price is $0.31 and its 200 day moving average price is $0.42. The firm’s market cap is $6.52 million.
Rand Logistics (NASDAQ:RLOG) last released its quarterly earnings data on Monday, August 14th. The shipping company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.41). The firm had revenue of $32.34 million for the quarter. Rand Logistics had a negative net margin of 18.21% and a negative return on equity of 160.74%. Equities research analysts expect that Rand Logistics, Inc. will post ($0.18) earnings per share for the current fiscal year.
In related news, major shareholder Brent D. Baird purchased 167,242 shares of Rand Logistics stock in a transaction on Friday, October 13th. The stock was bought at an average price of $0.34 per share, with a total value of $56,862.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brent D. Baird purchased 400,000 shares of Rand Logistics stock in a transaction on Thursday, August 24th. The stock was bought at an average cost of $0.29 per share, with a total value of $116,000.00. Following the transaction, the insider now directly owns 2,602,683 shares of the company’s stock, valued at $754,778.07. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,526,702 shares of company stock valued at $451,106. Insiders own 13.10% of the company’s stock.
An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC grew its stake in Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,700 shares of the shipping company’s stock after buying an additional 17,100 shares during the period. Renaissance Technologies LLC owned approximately 0.90% of Rand Logistics worth $107,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 31.09% of the company’s stock.
Rand Logistics Company Profile
Rand Logistics, Inc is a shipping company that, through its operating subsidiaries, is engaged in the operation of bulk carriers on the Great Lakes. The Company’s shipping business is operated in Canada by Lower Lakes Towing Ltd. (Lower Lakes Towing) and in the United States by Lower Lakes Transportation Company (Lower Lakes Transportation).