PONOU’s Quiet Period To Expire on April 22nd (NASDAQ:PONOU)

PONOU’s (NASDAQ:PONOU) quiet period will expire on Wednesday, April 22nd. PONOU had issued 12,000,000 shares in its initial public offering on March 13th. The total size of the offering was $120,000,000 based on an initial share price of $10.00. During PONOU’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Separately, Wall Street Zen raised PONOU to a “hold” rating in a research report on Saturday, March 21st.

PONOU Price Performance

Shares of PONOU stock opened at $10.01 on Friday. PONOU has a 12 month low of $9.96 and a 12 month high of $10.10.