Pinstripes Holdings Inc. (NYSE:PNST) Short Interest Update

Pinstripes Holdings Inc. (NYSE:PNST) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 196,700 shares, an increase of 36.0% from the February 13th total of 144,600 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 187,000 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Pinstripes

Several hedge funds have recently modified their holdings of PNST. Raymond James Financial Inc. purchased a new position in Pinstripes in the 4th quarter valued at about $27,000. Toronto Dominion Bank purchased a new position in Pinstripes in the 4th quarter valued at about $29,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Pinstripes in the 3rd quarter valued at about $240,000. 56.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PNST shares. Oppenheimer lowered their price target on shares of Pinstripes from $5.00 to $2.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. William Blair reaffirmed an “outperform” rating on shares of Pinstripes in a report on Wednesday, November 27th. Finally, BTIG Research lowered their target price on shares of Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th.

Pinstripes Trading Down 15.6 %

Shares of PNST stock traded down $0.01 during mid-day trading on Monday, hitting $0.07. 126,079 shares of the stock were exchanged, compared to its average volume of 87,793. The firm has a fifty day moving average of $0.32 and a 200 day moving average of $0.65. Pinstripes has a 52-week low of $0.03 and a 52-week high of $4.26.

Pinstripes (NYSE:PNST) last posted its earnings results on Wednesday, February 19th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The firm had revenue of $35.52 million for the quarter, compared to analyst estimates of $35.10 million. As a group, equities analysts forecast that Pinstripes will post -0.86 EPS for the current fiscal year.

Pinstripes Company Profile

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.