PSQ Holdings, Inc. (NYSE:PSQH) Sees Large Growth in Short Interest

PSQ Holdings, Inc. (NYSE:PSQH) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,630,000 shares, a growth of 25.2% from the February 28th total of 2,100,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 9.5% of the shares of the stock are sold short.

PSQ Stock Down 0.5 %

Shares of PSQH opened at $2.19 on Thursday. The firm has a market cap of $93.98 million, a P/E ratio of -1.74 and a beta of -0.21. PSQ has a 1 year low of $2.00 and a 1 year high of $7.77. The stock has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $3.21. The company has a debt-to-equity ratio of 6.46, a current ratio of 1.90 and a quick ratio of 1.72.

PSQ (NYSE:PSQH) last issued its earnings results on Thursday, March 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). PSQ had a negative return on equity of 404.92% and a negative net margin of 227.52%. The business had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $7.47 million. On average, analysts forecast that PSQ will post -1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PSQ

Several institutional investors have recently bought and sold shares of the stock. Heights Capital Management Inc. purchased a new stake in PSQ in the 4th quarter worth approximately $5,836,000. Alyeska Investment Group L.P. boosted its stake in PSQ by 121.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,891,703 shares of the company’s stock valued at $8,588,000 after purchasing an additional 1,036,694 shares during the last quarter. Spire Wealth Management bought a new stake in shares of PSQ in the fourth quarter worth approximately $1,072,000. Harvest Investment Services LLC boosted its holdings in PSQ by 108.4% in the fourth quarter. Harvest Investment Services LLC now owns 426,788 shares of the company’s stock worth $1,938,000 after purchasing an additional 222,041 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in PSQ during the fourth quarter valued at $523,000. 17.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Roth Mkm cut their price target on shares of PSQ from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Maxim Group started coverage on PSQ in a research note on Wednesday, January 15th. They issued a “buy” rating and a $8.00 target price on the stock.

About PSQ

PSQ Holdings, Inc, together with its subsidiaries, operates an online marketplace through advertising and eCommerce in the United States. It operates through two segments, Marketplace and Brands segments. The PSQ platform is accessible through its mobile application and website. The company also sells diapers and wipes to mothers online under the EveryLife brand name.