Grabagun Digital (NYSE:PEW) Issues Quarterly Earnings Results

Grabagun Digital (NYSE:PEW) issued its quarterly earnings data on Thursday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01), FiscalAI reports. The firm had revenue of $21.23 million for the quarter. Grabagun Digital had a negative return on equity of 6.15% and a negative net margin of 6.42%.

Here are the key takeaways from Grabagun Digital’s conference call:

• Third-quarter revenue fell 4.7% year over year to $21.2 million, with firearm unit volume down 14% and non-firearm unit volume down 27%. Adjusted EBITDA loss widened to $2.1 million from $0.9 million, reflecting higher normalized operating costs and public-company investment.
• Gross margin expanded 480 basis points to 14.4%, marking a third consecutive quarter of year-over-year improvement; gross profit rose 44% to $3.1 million. Management attributed the gains to higher selling prices, improved sourcing, and higher-margin PEW Logistics revenue.
• PEW Logistics service revenue reached about $300,000, up 28% sequentially, and the platform added SAR as its fourth manufacturer. GrabAGun also expanded its KelTec relationship to operate the manufacturer’s full e-commerce business, though PEW remains small relative to the core business.
• GrabAGun completed its approximately $34 million all-cash, non-dilutive acquisition of Camfour, adding a wholesale channel alongside its consumer e-commerce and manufacturer logistics businesses. The company expects to apply its technology to improve purchasing and inventory productivity, but detailed financials and integration results are still to come.

Grabagun Digital Price Performance

PEW traded down $0.18 during midday trading on Friday, hitting $1.59. The company had a trading volume of 724,026 shares, compared to its average volume of 491,865. The company has a debt-to-equity ratio of 0.07, a quick ratio of 8.61 and a current ratio of 9.42. The company has a market capitalization of $46.81 million, a PE ratio of -6.92 and a beta of -0.01. Grabagun Digital has a twelve month low of $1.49 and a twelve month high of $4.02. The firm’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $2.54.

Analyst Upgrades and Downgrades

PEW has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Grabagun Digital in a research report on Tuesday, September 8th. 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 research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Grabagun Digital has a consensus rating of “Hold” and a consensus price target of $5.00.

Insider Buying and Selling at Grabagun Digital

In other news, CFO Justin C. Hilty sold 16,384 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.25, for a total transaction of $36,864.00. Following the transaction, the chief financial officer directly owned 74,517 shares in the company, valued at approximately $167,663.25. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders have sold 22,549 shares of company stock valued at $48,269 over the last ninety days. Insiders own 27.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEW. Engineers Gate Manager LP boosted its position in Grabagun Digital by 62.1% in the 2nd quarter. Engineers Gate Manager LP now owns 37,274 shares of the company’s stock valued at $85,000 after buying an additional 14,277 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Grabagun Digital in the 1st quarter valued at $135,000. Finally, SkyView Investment Advisors LLC raised its position in shares of Grabagun Digital by 10.0% during the second quarter. SkyView Investment Advisors LLC now owns 100,086 shares of the company’s stock worth $228,000 after acquiring an additional 9,100 shares during the last quarter. Institutional investors and hedge funds own 4.80% of the company’s stock.

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.