Pinstripes Holdings Inc. (NYSE:PNST) Short Interest Up 31.6% in March

Pinstripes Holdings Inc. (NYSE:PNST - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 251,600 shares, an increase of 31.6% from the March 15th total of 191,200 shares. Based on an average daily volume of 142,700 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.1% of the company's shares are short sold.

Pinstripes Trading Down 4.7 %

PNST stock traded down $0.15 during trading hours on Monday, reaching $3.03. 83,234 shares of the stock were exchanged, compared to its average volume of 147,460. The firm's 50-day simple moving average is $3.45. Pinstripes has a 12 month low of $2.85 and a 12 month high of $16.00.

Pinstripes (NYSE:PNST - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The business had revenue of $32.16 million during the quarter, compared to analysts' expectations of $32.20 million. On average, analysts forecast that Pinstripes will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Anthony Querciagrossa purchased 100,000 shares of the business's stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $3.43 per share, with a total value of $343,000.00. Following the purchase, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $343,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BTIG Research assumed coverage on shares of Pinstripes in a research report on Monday, January 29th. They issued a "buy" rating and a $6.00 price objective for the company. Oppenheimer restated an "outperform" rating and issued a $6.00 price objective on shares of Pinstripes in a research report on Thursday, February 22nd. Finally, William Blair began coverage on Pinstripes in a report on Monday, April 8th. They set an "outperform" rating for the company.

Pinstripes Company Profile

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.

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