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

Pinstripes Holdings Inc. (NYSE:PNST) was the recipient of a large decrease in short interest in 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 shares are short sold.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

PNST has been the topic of a number of recent research reports. Oppenheimer cut their target price on shares of Pinstripes from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. BTIG Research cut their price target on shares of Pinstripes from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 5th.

Pinstripes Trading Up 0.8 %

Shares of PNST traded up $0.01 during midday trading on Friday, reaching $0.90. 7,051 shares of the company were exchanged, compared to its average volume of 58,572. Pinstripes has a 1-year low of $0.56 and a 1-year high of $16.00. The stock has a 50-day moving average price of $0.84 and a 200-day moving average price of $1.92.

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

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.