Potbelly (NASDAQ:PBPB) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Potbelly Corporation (NASDAQ:PBPB)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.21 and traded as high as $17.12. Potbelly shares last traded at $17.12, with a volume of 1,001,795 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PBPB shares. Lake Street Capital downgraded shares of Potbelly from a “buy” rating to a “hold” rating and increased their price target for the company from $15.00 to $17.12 in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potbelly in a report on Wednesday, October 8th. Craig Hallum downgraded shares of Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 price objective for the company. in a report on Wednesday, September 10th. Finally, Benchmark downgraded shares of Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Friday, September 12th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.41.

Potbelly Trading Up 0.1%

The business’s fifty day moving average price is $15.21 and its 200 day moving average price is $12.24. The company has a market capitalization of $518.05 million, a P/E ratio of 48.92 and a beta of 1.52.

Potbelly (NASDAQ:PBPB) last announced its earnings results on Monday, January 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $101.69 million for the quarter. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. Potbelly has set its Q4 2022 guidance at EPS. Equities research analysts anticipate that Potbelly Corporation will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Potbelly

A number of hedge funds have recently made changes to their positions in the company. Monimus Capital Management LP increased its position in shares of Potbelly by 32.6% during the 2nd quarter. Monimus Capital Management LP now owns 671,095 shares of the company’s stock worth $8,221,000 after purchasing an additional 165,151 shares in the last quarter. Next Century Growth Investors LLC increased its position in shares of Potbelly by 298.3% during the 1st quarter. Next Century Growth Investors LLC now owns 618,591 shares of the company’s stock worth $5,883,000 after purchasing an additional 463,275 shares in the last quarter. Archon Capital Management LLC increased its position in shares of Potbelly by 3.4% during the 2nd quarter. Archon Capital Management LLC now owns 546,417 shares of the company’s stock worth $6,694,000 after purchasing an additional 18,000 shares in the last quarter. American Century Companies Inc. increased its position in shares of Potbelly by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 471,237 shares of the company’s stock worth $5,773,000 after purchasing an additional 84,807 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Potbelly by 31.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 445,780 shares of the company’s stock valued at $5,461,000 after acquiring an additional 107,847 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.