Short Interest in Pinstripes Holdings Inc. (NYSE:PNST) Grows By 36.0%

Pinstripes Holdings Inc. (NYSE:PNST) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 196,700 shares, a growth of 36.0% from the February 13th total of 144,600 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 187,000 shares, the days-to-cover ratio is currently 1.1 days.

Pinstripes Price Performance

Shares of Pinstripes stock traded up $0.02 during midday trading on Friday, hitting $0.08. 84,219 shares of the company were exchanged, compared to its average volume of 87,793. The firm has a 50 day simple moving average of $0.32 and a 200-day simple moving average of $0.68. Pinstripes has a 52 week low of $0.03 and a 52 week high of $4.26.

Pinstripes (NYSE:PNST) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). The business had revenue of $35.52 million during the quarter, compared to the consensus estimate of $35.10 million. On average, sell-side analysts forecast that Pinstripes will post -0.86 EPS for the current fiscal year.

Institutional Trading of Pinstripes

Large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new position in shares of Pinstripes in the third quarter valued at approximately $240,000. Toronto Dominion Bank bought a new position in Pinstripes in the 4th quarter valued at $29,000. Finally, Raymond James Financial Inc. acquired a new position in Pinstripes in the fourth quarter worth $27,000. 56.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PNST shares. William Blair restated an “outperform” rating on shares of Pinstripes in a research report on Wednesday, November 27th. BTIG Research lowered their price target on shares of Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Oppenheimer reduced their price objective on shares of Pinstripes from $5.00 to $2.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th.

About Pinstripes

Pinstripes Holdings Inc operates a dining and entertainment concept restaurants. The company provides Italian-American food and beverage menu with bowling, bocce, and event space. It also offers private event options and catering services. The company is based in Northbrook, Illinois.