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

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) was the target of a significant decline in short interest during the month of 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 days-to-cover ratio is currently 2.3 days. Approximately 0.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Pineapple Financial

An institutional investor recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. acquired a new stake in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 quarter. Institutional investors and hedge funds own 0.25% of the company’s stock.

Pineapple Financial Stock Down 1.2%

Shares of PAPL traded down $0.01 during mid-day trading on Tuesday, hitting $0.99. 18,857 shares of the company traded hands, compared to its average volume of 2,089,162. 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 1-year low of $0.54 and a 1-year high of $9.13. The company has a market capitalization of $24.95 million, a PE ratio of -1.79 and a beta of 5.56. The business has a 50 day moving average of $1.03 and a 200 day moving average of $0.92.

Pineapple Financial (NYSEAMERICAN:PAPL) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $1.40. The business had revenue of $0.62 million for 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%.

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.