PSQ (NYSE:PSQH) Posts Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• PSQ Holdings, Inc. reported a quarterly earnings per share (EPS) of ($0.18), exceeding the consensus estimate of ($0.27) by $0.09.
• The company's stock price rose to $2.00 after the earnings announcement, with a trading volume of 1,144,540 shares, significantly above its average volume.
• Director Willie Langston increased his position in PSQH by purchasing 27,000 shares at an average price of $1.95 each, reflecting a 10.90% increase in ownership.

PSQ (NYSE:PSQH - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09, Zacks reports. The business had revenue of $7.08 million during the quarter, compared to analysts' expectations of $9.11 million. PSQ had a negative net margin of 169.29% and a negative return on equity of 224.55%.

PSQ Stock Performance

Shares of PSQ stock traded down $0.08 during trading hours on Friday, hitting $1.56. 1,070,705 shares of the company were exchanged, compared to its average volume of 780,897. PSQ has a 1 year low of $1.55 and a 1 year high of $7.77. The company has a current ratio of 2.97, a quick ratio of 4.24 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.36. The stock has a market capitalization of $66.94 million, a price-to-earnings ratio of -1.16 and a beta of -0.02.

Insider Transactions at PSQ

In other PSQ news, Director Willie Langston purchased 27,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were purchased at an average cost of $1.95 per share, with a total value of $52,650.00. Following the purchase, the director owned 274,776 shares in the company, valued at approximately $535,813.20. This represents a 10.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 22.06% of the company's stock.

Hedge Funds Weigh In On PSQ

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP boosted its position in shares of PSQ by 1,727.8% in the 2nd quarter. Marshall Wace LLP now owns 870,150 shares of the company's stock valued at $1,784,000 after purchasing an additional 822,544 shares during the period. Geode Capital Management LLC raised its stake in shares of PSQ by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 333,355 shares of the company's stock worth $683,000 after purchasing an additional 38,391 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of PSQ by 44.5% during the 2nd quarter. XTX Topco Ltd now owns 61,609 shares of the company's stock valued at $126,000 after acquiring an additional 18,969 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of PSQ during the 2nd quarter valued at about $107,000. Finally, Shay Capital LLC grew its holdings in PSQ by 46.1% in the 2nd quarter. Shay Capital LLC now owns 28,516 shares of the company's stock valued at $58,000 after buying an additional 9,001 shares during the last quarter. Institutional investors own 17.32% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of PSQ from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

About PSQ

PSQ Holdings, Inc, together with its subsidiaries, operates an online marketplace through advertising and eCommerce in the United States. It operates through two segments, Marketplace and Brands segments. The PSQ platform is accessible through its mobile application and website. The company also sells diapers and wipes to mothers online under the EveryLife brand name.