Potbelly (NASDAQ:PBPB) Shares Pass Above Fifty Day Moving Average - What's Next?

Potbelly Corporation (NASDAQ:PBPB - Get Free Report)'s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.74 and traded as high as $12.89. Potbelly shares last traded at $12.65, with a volume of 218,100 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. William Blair restated a "market perform" rating on shares of Potbelly in a research note on Thursday, March 20th. Benchmark boosted their price objective on Potbelly from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen downgraded Potbelly from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Potbelly Trading Down 0.1%

The stock has a 50 day moving average of $10.74 and a 200-day moving average of $10.43. The company has a market capitalization of $381.65 million, a P/E ratio of 9.04 and a beta of 1.69. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.08.

Institutional Trading of Potbelly

Several hedge funds have recently modified their holdings of the company. Portolan Capital Management LLC raised its holdings in Potbelly by 9.3% during the 4th quarter. Portolan Capital Management LLC now owns 986,277 shares of the company's stock valued at $9,291,000 after buying an additional 83,748 shares during the period. JPMorgan Chase & Co. raised its holdings in Potbelly by 46.3% during the 4th quarter. JPMorgan Chase & Co. now owns 98,124 shares of the company's stock valued at $924,000 after buying an additional 31,071 shares during the period. Deutsche Bank AG raised its holdings in Potbelly by 35.8% during the 4th quarter. Deutsche Bank AG now owns 24,997 shares of the company's stock valued at $235,000 after buying an additional 6,594 shares during the period. American Century Companies Inc. raised its holdings in Potbelly by 139.3% during the 4th quarter. American Century Companies Inc. now owns 147,147 shares of the company's stock valued at $1,386,000 after buying an additional 85,651 shares during the period. Finally, Monimus Capital Management LP purchased a new stake in Potbelly during the 4th quarter valued at $4,901,000. 72.60% of the stock is owned by hedge funds and other institutional investors.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.

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