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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Pinstripes in a research note on Wednesday, November 27th. Oppenheimer reduced their price objective on Pinstripes from $5.00 to $2.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, BTIG Research lowered their target price on Pinstripes from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th.

Pinstripes Trading Down 17.0 %

PNST traded down $0.03 during trading on Wednesday, hitting $0.15. 259,115 shares of the stock traded hands, compared to its average volume of 79,901. The firm has a 50-day moving average of $0.38 and a 200 day moving average of $0.79. Pinstripes has a 12-month low of $0.15 and a 12-month high of $4.26.

Pinstripes (NYSE:PNST) last posted 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 company had revenue of $35.52 million during the quarter, compared to the consensus estimate of $35.10 million. On average, research analysts anticipate that Pinstripes will post -0.86 EPS for the current year.

Hedge Funds Weigh In On Pinstripes

Several hedge funds have recently made changes to their positions in PNST. Raymond James Financial Inc. bought a new stake in Pinstripes in the fourth quarter valued at $27,000. Toronto Dominion Bank purchased a new stake in shares of Pinstripes in the 4th quarter worth about $29,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Pinstripes during the 3rd quarter valued at about $240,000. 56.79% of the stock is owned by hedge funds and other institutional investors.

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.