Pineapple Financial (NYSEAMERICAN:PAPL) Trading Down 2.6% – Time to Sell?

Pineapple Financial Inc. (NYSEAMERICAN:PAPL)’s stock price was down 2.6% during trading on Tuesday . The stock traded as low as $1.12 and last traded at $1.12. Approximately 29,923 shares changed hands during trading, a decline of 59% from the average daily volume of 73,793 shares. The stock had previously closed at $1.15.

Pineapple Financial Stock Down 2.6%

The stock’s fifty day moving average is $1.03 and its two-hundred day moving average is $0.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.30 million, a P/E ratio of -2.04 and a beta of 5.57.

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

Hedge Funds Weigh In On Pineapple Financial

A hedge fund recently bought a new position in Pineapple Financial stock. Polar Asset Management Partners Inc. purchased a new position in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned 13.16% of Pineapple Financial at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.25% of the company’s stock.

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.