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

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

Pinstripes Stock Up 0.8 %

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

Pinstripes (NYSE:PNST) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) 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 the consensus estimate of $34.45 million. On average, research analysts forecast that Pinstripes will post -0.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on PNST shares. Oppenheimer lowered their target price on Pinstripes from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. BTIG Research lowered their price objective on shares of Pinstripes from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th.

Institutional Investors Weigh In On Pinstripes

Institutional investors and hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $36,000. Horizon Wealth Management LLC bought a new stake in Pinstripes in the second quarter valued at $46,000. Greenwood Gearhart Inc. acquired a new position in Pinstripes during the second quarter worth $70,000. Lakewood Asset Management LLC bought a new position in shares of Pinstripes during the second quarter valued at $246,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Pinstripes in the 3rd quarter valued at $240,000. 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.