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

Pinstripes Holdings Inc. (NYSE:PNST) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 92,000 shares, a decline of 22.1% from the October 15th total of 118,100 shares. Based on an average daily trading volume, of 51,600 shares, the short-interest ratio is currently 1.8 days. Currently, 0.4% of the company’s stock are sold short.

Pinstripes Price Performance

Shares of NYSE PNST traded up $0.01 during midday trading on Friday, reaching $0.90. The company’s stock had a trading volume of 7,051 shares, compared to its average volume of 58,572. The firm has a 50 day moving average price of $0.84 and a 200-day moving average price of $1.92. Pinstripes has a 12-month low of $0.56 and a 12-month high of $16.00.

Pinstripes (NYSE:PNST) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.12). The business had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $34.45 million. On average, equities analysts anticipate that Pinstripes will post -0.65 EPS for the current year.

Institutional Trading of Pinstripes

Hedge funds and other institutional investors have recently modified their holdings of the business. Rothschild Investment LLC bought a new stake in shares of Pinstripes during the 2nd quarter valued at about $36,000. Horizon Wealth Management LLC bought a new stake in Pinstripes during the second quarter valued at approximately $46,000. Greenwood Gearhart Inc. purchased a new position in Pinstripes in the 2nd quarter worth approximately $70,000. Rockefeller Capital Management L.P. bought a new position in shares of Pinstripes in the 3rd quarter worth $240,000. Finally, Lakewood Asset Management LLC bought a new position in shares of Pinstripes in the 2nd quarter worth $246,000. Institutional investors own 56.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PNST shares. Oppenheimer lowered their price target on Pinstripes from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. BTIG Research reduced their target price on shares of Pinstripes from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 5th.

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.