Grabagun Digital (NYSE:PEW) Stock Price Down 0.3% - What's Next?

Key Points

• Grabagun Digital shares fell 0.3% to approximately $1.875, with trading volume 16% above the average session volume.
• Analyst sentiment is mixed: Roth Capital maintained a Buy rating while lowering its price target to $5.00, and Weiss Ratings reaffirmed a Sell rating. MarketBeat’s consensus rating is Hold, with a $5.00 average target.
• The company reported a quarterly loss of $0.06 per share, beating estimates by $0.03, on revenue of $23.22 million. The CFO’s share sale was conducted under a pre-arranged plan to cover tax obligations, while insiders collectively own 27.8% of the stock.

Grabagun Digital Holdings Inc. (NYSE:PEW - Get Free Report) shares dropped 0.3% during trading on Friday. The stock traded as low as $1.86 and last traded at $1.8750. 266,953 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 230,457 shares. The stock had previously closed at $1.88.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Grabagun Digital in a research note on Tuesday, September 8th. Roth Capital decreased their target price on shares of Grabagun Digital from $6.75 to $5.00 and set a "buy" rating on the stock in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Grabagun Digital has an average rating of "Hold" and an average target price of $5.00.

Grabagun Digital Trading Down 0.3%

The firm has a market capitalization of $55.33 million, a price-to-earnings ratio of -8.15 and a beta of -0.04. 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 business has a fifty day moving average price of $2.31 and a 200 day moving average price of $2.59.

Grabagun Digital (NYSE:PEW - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. Grabagun Digital had a negative return on equity of 6.15% and a negative net margin of 6.42%. The firm had revenue of $23.22 million for the quarter. As a group, equities analysts forecast that Grabagun Digital Holdings Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Grabagun Digital

In other news, CFO Justin C. Hilty sold 16,384 shares of Grabagun Digital stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.25, for a total value of $36,864.00. Following the transaction, the chief financial officer directly owned 74,517 shares of the company's stock, valued at $167,663.25. The trade was a 18.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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. 27.80% of the stock is currently owned by company insiders.

Institutional Trading of Grabagun Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SkyView Investment Advisors LLC lifted its position in Grabagun Digital by 10.0% during the second 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. Engineers Gate Manager LP increased its position in shares of 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 acquiring an additional 14,277 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Grabagun Digital in the first quarter worth $135,000. United Asset Strategies Inc. purchased a new position in shares of Grabagun Digital in the 1st quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Grabagun Digital in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 4.80% of the company's stock.

Grabagun Digital Company Profile

GrabAGun Digital Holdings, Inc operates an online firearms and outdoor-products marketplace through its GrabAGun platform. The company offers firearms, ammunition, optics, parts, accessories and related shooting and outdoor equipment to consumers.

Its business is primarily focused on e-commerce, providing product discovery, ordering and fulfillment services for customers purchasing regulated products through licensed dealers and applicable transfer procedures. GrabAGun serves customers in the United States, subject to federal, state and local laws governing firearms and ammunition sales.

The company developed from the GrabAGun online retail business and became publicly traded under the symbol PEW following a business combination.

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