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

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

Pinstripes Price Performance

Shares of Pinstripes stock traded up $0.01 on Tuesday, reaching $0.08. The company had a trading volume of 9,908 shares, compared to its average volume of 179,654. The firm’s 50 day moving average price is $0.32 and its two-hundred day moving average price is $0.65. Pinstripes has a 52-week low of $0.03 and a 52-week high of $4.15.

Pinstripes (NYSE:PNST) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts expect that Pinstripes will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PNST. Rockefeller Capital Management L.P. acquired a new position in shares of Pinstripes in the third quarter valued at approximately $240,000. Raymond James Financial Inc. acquired a new position in shares of Pinstripes in the fourth quarter valued at approximately $27,000. Finally, Toronto Dominion Bank acquired a new position in shares of Pinstripes in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 56.79% of the company’s stock.

Analysts Set New Price Targets

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

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.