Grabagun Digital (NYSE:PEW) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Grabagun Digital Holdings Inc. (NYSE:PEW) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.10 and traded as high as $2.19. Grabagun Digital shares last traded at $2.16, with a volume of 1,375,035 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PEW shares. Roth Capital cut their price objective on Grabagun Digital from $6.75 to $5.00 and set a “buy” rating for the company in a report on Monday, August 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grabagun Digital in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Grabagun Digital has a consensus rating of “Hold” and a consensus price target of $5.00.

Grabagun Digital Price Performance

The firm has a market capitalization of $63.74 million, a P/E ratio of -9.39 and a beta of -0.01. The business’s 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.57. The company has a quick ratio of 8.61, a current ratio of 9.42 and a debt-to-equity ratio of 0.07.

Grabagun Digital (NYSE:PEW) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $23.22 million during the quarter. Grabagun Digital had a negative net margin of 6.42% and a negative return on equity of 6.15%. Sell-side analysts forecast that Grabagun Digital Holdings Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Justin C. Hilty sold 16,384 shares of Grabagun Digital stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.25, for a total value of $36,864.00. Following the transaction, the chief financial officer owned 74,517 shares in the company, valued at $167,663.25. This trade represents a 18.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 22,549 shares of company stock valued at $48,269. 27.80% of the stock is owned by company insiders.

Institutional Trading of Grabagun Digital

Several institutional investors have recently added to or reduced their stakes in PEW. United Asset Strategies Inc. bought a new position in shares of Grabagun Digital during the first quarter valued at about $47,000. Engineers Gate Manager LP increased its holdings in shares of Grabagun Digital by 62.1% in the second quarter. Engineers Gate Manager LP now owns 37,274 shares of the company’s stock worth $85,000 after buying an additional 14,277 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Grabagun Digital in the 1st quarter valued at about $135,000. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Grabagun Digital by 10.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 100,086 shares of the company’s stock valued at $228,000 after acquiring an additional 9,100 shares during the last quarter. 4.80% of the stock is currently owned by hedge funds and other institutional investors.

Grabagun Digital Company Profile

GrabAGun.com is an online retailer of firearms, ammunition and related accessories. GrabAGun.com, formerly known as Colombier Acquisition Corp. II, is based in COPPELL, Texas.