PSQ (NYSE:PSQH) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• PSQ (NYSE:PSQH) has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• For the latest quarter, PSQ reported a loss of ($0.24) earnings per share (EPS), which slightly beat analysts' expectations, but the company also faced significant financial challenges with a negative net margin of 187.14%.
• Insider activity showed Director Willie Langston purchased 27,000 shares at $1.95 each, increasing his ownership stake by 10.90% to 274,776 shares.

PSQ (NYSE:PSQH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

PSQ Stock Down 16.9%

Shares of PSQ stock traded down $0.34 during trading on Friday, reaching $1.65. The company's stock had a trading volume of 1,718,251 shares, compared to its average volume of 892,404. The company has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $2.41. PSQ has a 1-year low of $1.60 and a 1-year high of $7.77. The company has a quick ratio of 4.24, a current ratio of 4.52 and a debt-to-equity ratio of 1.09. The company has a market cap of $70.59 million, a price-to-earnings ratio of -1.07 and a beta of -0.02.

PSQ (NYSE:PSQH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. PSQ had a negative return on equity of 259.58% and a negative net margin of 187.14%. The firm had revenue of $7.08 million during the quarter, compared to analyst estimates of $9.11 million. As a group, equities analysts forecast that PSQ will post -1.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Willie Langston acquired 27,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of $1.95 per share, with a total value of $52,650.00. Following the completion of the acquisition, the director owned 274,776 shares in the company, valued at $535,813.20. This trade represents a 10.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 32.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On PSQ

A number of hedge funds have recently added to or reduced their stakes in PSQH. Geode Capital Management LLC increased its stake in shares of PSQ by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 217,202 shares of the company's stock worth $986,000 after purchasing an additional 18,017 shares in the last quarter. Heights Capital Management Inc. acquired a new stake in PSQ during the fourth quarter worth about $5,836,000. Harvest Investment Services LLC boosted its stake in PSQ by 108.4% in the fourth quarter. Harvest Investment Services LLC now owns 426,788 shares of the company's stock valued at $1,938,000 after acquiring an additional 222,041 shares during the period. Northern Trust Corp grew its position in PSQ by 135.9% in the 4th quarter. Northern Trust Corp now owns 64,759 shares of the company's stock worth $294,000 after purchasing an additional 37,306 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of PSQ in the fourth quarter valued at approximately $367,000. Institutional investors and hedge funds own 17.32% of the company's stock.

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.