Rand Logistics (RLOG) Trading Down 6.3%

Rand Logistics, Inc. (NASDAQ:RLOG) shares traded down 6.3% during mid-day trading on Wednesday . The company traded as low as $0.15 and last traded at $0.15. 1,549,400 shares were traded during trading, a decline of 2% from the average session volume of 1,587,750 shares. The stock had previously closed at $0.16.

Separately, ValuEngine downgraded shares of Rand Logistics from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 16th.

The company has a market capitalization of $2.83, a PE ratio of -0.12 and a beta of 1.26.

In related news, Director Laurence S. Levy sold 477,723 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $0.28, for a total transaction of $133,762.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Brent D. Baird bought 167,242 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average price of $0.34 per share, for a total transaction of $56,862.28. The disclosure for this purchase can be found here. Insiders have sold a total of 2,937,630 shares of company stock worth $662,680 in the last quarter. 13.10% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in Rand Logistics stock. Renaissance Technologies LLC boosted its holdings in shares of Rand Logistics, Inc. (NASDAQ:RLOG) by 11.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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. 20.36% of the stock is owned by institutional investors and hedge funds.

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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).

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