Rand Logistics, Inc. (NASDAQ:RLOG) shares gapped down before the market opened on Thursday . The stock had previously closed at $0.69, but opened at $0.58. Rand Logistics shares last traded at $0.37, with a volume of 8328100 shares.
Separately, ValuEngine cut shares of Rand Logistics from a “sell” rating to a “strong sell” rating in a report on Thursday, November 16th.
In other news, major shareholder Brent D. Baird purchased 300,000 shares of the stock in a transaction on Thursday, September 21st. The stock was bought at an average price of $0.29 per share, for a total transaction of $87,000.00. Following the acquisition, the insider now directly owns 2,952,683 shares of the company’s stock, valued at approximately $856,278.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brent D. Baird purchased 167,242 shares of the stock in a transaction on Friday, October 13th. The shares were purchased at an average price of $0.34 per share, with a total value of $56,862.28. The disclosure for this purchase can be found here. Insiders own 13.10% 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).
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