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

Pinstripes Holdings Inc. (NYSE:PNST) was the target of a significant drop in short interest in 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. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 120,900 shares, the short-interest ratio is currently 1.2 days.

Pinstripes Stock Down 17.0 %

Pinstripes stock traded down $0.03 during trading hours on Wednesday, hitting $0.15. The stock had a trading volume of 259,115 shares, compared to its average volume of 79,901. The stock’s 50-day moving average price is $0.38 and its 200-day moving average price is $0.79. Pinstripes has a 12-month low of $0.15 and a 12-month high of $4.26.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PNST. BTIG Research dropped their price target on Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer lowered their price objective on Pinstripes from $5.00 to $2.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Finally, William Blair reissued an “outperform” rating on shares of Pinstripes in a research note on Wednesday, November 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new position in Pinstripes during the 3rd quarter valued at about $240,000. Toronto Dominion Bank purchased a new stake in Pinstripes in the fourth quarter worth approximately $29,000. Finally, Raymond James Financial Inc. purchased a new stake in Pinstripes in the fourth quarter worth approximately $27,000. 56.79% of the stock is 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.