Grabagun Digital (NYSE:PEW) Stock Rating Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Grabagun Digital from “sell” to “strong sell.” Analyst views remain mixed: MarketBeat reports a “hold” consensus and a $5 average price target, though Roth Capital cut its target from $6.75 to $5.00.
• Shares opened at $1.50, near the stock’s 52-week low of $1.46, and below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.10 per share, missing the $0.09-per-share loss expected by analysts; revenue was $21.23 million.

Grabagun Digital (NYSE:PEW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also issued reports on PEW. Roth Capital reduced their target price on shares of Grabagun Digital from $6.75 to $5.00 and set a "buy" rating for the company in a research note on Monday, August 24th. Weiss Ratings restated a "sell (d)" rating on shares of Grabagun Digital in a research note on Tuesday, September 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $5.00.

Grabagun Digital Stock Performance

Shares of PEW opened at $1.50 on Friday. Grabagun Digital has a 1 year low of $1.46 and a 1 year high of $4.02. The company has a market cap of $44.12 million, a price-to-earnings ratio of -7.12 and a beta of -0.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 8.61 and a current ratio of 9.42. The firm has a fifty day moving average of $2.02 and a 200-day moving average of $2.54.

Grabagun Digital (NYSE:PEW - Get Free Report) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Grabagun Digital had a negative return on equity of 6.00% and a negative net margin of 6.28%. The firm had revenue of $21.23 million for the quarter. As a group, equities analysts anticipate that Grabagun Digital will post -0.22 earnings per share for the current year.

Insider Transactions at Grabagun Digital

In other Grabagun Digital news, CFO Justin C. Hilty sold 16,384 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $2.25, for a total transaction of $36,864.00. Following the completion of the transaction, the chief financial officer owned 74,517 shares in the company, valued at approximately $167,663.25. The trade was a 18.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 22,549 shares of company stock worth $48,269. Insiders own 27.80% of the company's stock.

Institutional Investors Weigh In On Grabagun Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its holdings in Grabagun Digital by 62.1% in the second quarter. Engineers Gate Manager LP now owns 37,274 shares of the company's stock worth $85,000 after purchasing an additional 14,277 shares during the period. Renaissance Technologies LLC bought a new position in Grabagun Digital in the 1st quarter valued at about $135,000. Finally, SkyView Investment Advisors LLC grew its position in Grabagun Digital by 10.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 100,086 shares of the company's stock valued at $228,000 after buying an additional 9,100 shares in the last quarter. 4.80% of the stock is currently owned by institutional investors.

Grabagun Digital Company Profile

GrabAGun Digital Holdings operates GrabAGun.com, an e-commerce retailer of firearms and related products. Its offerings include guns, ammunition, optics, firearm parts and accessories, and hunting and outdoor gear. The company sells to customers in the United States through its online platform. Firearm purchases and delivery are subject to applicable laws and regulations, including requirements for transfers through licensed dealers. GrabAGun's business traces its roots to the launch of GrabAGun.com in 2010.

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