Pineapple Financial Inc. (NYSEAMERICAN:PAPL) Sees Large Decline in Short Interest

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 140,447 shares, a decline of 34.2% from the July 30th total of 213,534 shares. Based on an average daily volume of 62,320 shares, the short-interest ratio is presently 2.3 days. Approximately 0.6% of the company’s shares are sold short.

Pineapple Financial Price Performance

Shares of NYSEAMERICAN:PAPL opened at $0.95 on Thursday. The company’s fifty day moving average is $1.04 and its two-hundred day moving average is $0.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.01. Pineapple Financial has a 12-month low of $0.54 and a 12-month high of $9.13. The company has a market cap of $24.11 million, a P/E ratio of -1.73 and a beta of 5.51.

Pineapple Financial (NYSEAMERICAN:PAPL) last released its earnings results on Monday, July 20th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $1.40. The company had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.62 million. Pineapple Financial had a positive return on equity of 77.14% and a negative net margin of 92.89%.

Institutional Investors Weigh In On Pineapple Financial

An institutional investor recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. bought a new stake in shares of Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned approximately 13.16% of Pineapple Financial at the end of the most recent reporting period. 0.25% of the stock is owned by hedge funds and other institutional investors.

About Pineapple Financial

Pineapple Financial Inc operates as a mortgage technology and brokerage company in Canada. The company provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers; and mortgage consultation services through field agents. It also operates MyPineapple, a technology platform that allows users to conduct their brokerage services. In addition, the company offers back office support services, such as digital and automated onboarding and set up, loan packaging and processing, digital document collection and client portals, loan maintenance activities, payroll, lender communication, reporting requirements for regulators and business management, cloud services, expense collections, document preparation, compliance, training, administration, and marketing.