Short Interest in Pinstripes Holdings Inc. (NYSE:PNST) Decreases By 47.6%

by · The Markets Daily

Pinstripes Holdings Inc. (NYSE:PNST – Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 96,200 shares, a decrease of 47.6% from the September 15th total of 183,500 shares. Based on an average trading volume of 44,700 shares, the short-interest ratio is currently 2.2 days. Currently, 0.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BTIG Research lowered their price objective on Pinstripes from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Oppenheimer dropped their price target on Pinstripes from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Get Our Latest Analysis on PNST

Hedge Funds Weigh In On Pinstripes

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in Pinstripes in the second quarter valued at approximately $36,000. Horizon Wealth Management LLC purchased a new position in shares of Pinstripes during the 2nd quarter valued at $46,000. Greenwood Gearhart Inc. bought a new position in shares of Pinstripes during the 2nd quarter worth $70,000. Lakewood Asset Management LLC purchased a new stake in Pinstripes in the 2nd quarter worth about $246,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Pinstripes in the 2nd quarter valued at about $1,714,000. 56.79% of the stock is owned by hedge funds and other institutional investors.

Pinstripes Stock Down 6.7 %

Shares of PNST stock traded down $0.04 during trading hours on Friday, reaching $0.59. The company had a trading volume of 115,907 shares, compared to its average volume of 81,544. Pinstripes has a 12 month low of $0.56 and a 12 month high of $16.00. The business has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $2.36.

Pinstripes (NYSE:PNST – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). The company had revenue of $30.60 million for the quarter, compared to the consensus estimate of $34.45 million. Sell-side analysts expect that Pinstripes will post -0.65 EPS for the current fiscal year.

Pinstripes Company Profile

(Get Free Report)

Pinstripes Holdings Inc operates a dining and entertainment concept restaurants. The company provides Italian-American food and beverage menu with bowling, bocce, and event space. It also offers private event options and catering services. The company is based in Northbrook, Illinois.

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