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

Pinstripes Holdings Inc. (NYSE:PNST) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 144,600 shares, a drop of 28.1% from the January 31st total of 201,100 shares. Based on an average daily trading volume, of 120,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.7% of the shares of the stock are short sold.

Pinstripes Stock Performance

Shares of NYSE:PNST traded up $0.00 during mid-day trading on Tuesday, hitting $0.18. 278,878 shares of the company traded hands, compared to its average volume of 79,184. Pinstripes has a 52-week low of $0.16 and a 52-week high of $4.26. The firm’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.79.

Pinstripes (NYSE:PNST) last released its earnings results on Wednesday, February 19th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The business had revenue of $35.52 million for the quarter, compared to analysts’ expectations of $35.10 million. On average, sell-side analysts forecast that Pinstripes will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Pinstripes

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Pinstripes during the 4th quarter worth about $27,000. Toronto Dominion Bank acquired a new stake in Pinstripes in the fourth quarter valued at approximately $29,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Pinstripes during the 3rd quarter valued at $240,000. 56.79% of the stock is currently owned by institutional investors.

About Pinstripes

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.