Pinstripes Holdings Inc. (NYSE:PNST) Sees Significant Decline in Short Interest

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

Pinstripes Stock Up 2.3 %

Shares of PNST stock traded up $0.00 on Tuesday, reaching $0.18. 278,878 shares of the company were exchanged, compared to its average volume of 79,184. Pinstripes has a 1 year low of $0.16 and a 1 year high of $4.26. The business has a 50-day moving average price of $0.38 and a 200 day moving average price of $0.79.

Pinstripes (NYSE:PNST) last announced 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 business had revenue of $35.52 million for the quarter, compared to the consensus estimate of $35.10 million. Equities analysts forecast that Pinstripes will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Pinstripes

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new position in Pinstripes during the 3rd quarter worth $240,000. Toronto Dominion Bank purchased a new stake in Pinstripes in the fourth quarter valued at approximately $29,000. Finally, Raymond James Financial Inc. acquired a new stake in Pinstripes during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 56.79% of the company’s stock.

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.