Wall Street Zen Downgrades PSQ (NYSE:PSQH) to Sell

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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

PSQ Trading Down 1.8%

NYSE:PSQH traded down $0.04 during midday trading on Friday, hitting $1.96. The stock had a trading volume of 637,375 shares, compared to its average volume of 885,185. PSQ has a one year low of $1.63 and a one year high of $7.77. The company has a market capitalization of $83.89 million, a price-to-earnings ratio of -1.28 and a beta of -0.02. The stock has a 50-day moving average of $2.19 and a 200 day moving average of $2.42. The company has a quick ratio of 4.24, a current ratio of 4.52 and a debt-to-equity ratio of 1.09.

PSQ (NYSE:PSQH - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. PSQ had a negative return on equity of 259.58% and a negative net margin of 187.14%. The company had revenue of $6.75 million for the quarter, compared to analysts' expectations of $7.46 million. As a group, sell-side analysts forecast that PSQ will post -1.54 EPS for the current year.

Insider Activity

In other news, Director Willie Langston bought 27,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was bought at an average cost of $1.95 per share, for a total transaction of $52,650.00. Following the completion of the purchase, the director directly owned 274,776 shares in the company, valued at approximately $535,813.20. The trade was a 10.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.11% of the stock is currently owned by insiders.

Institutional Trading of PSQ

Hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC purchased a new stake in PSQ during the 2nd quarter valued at about $25,000. SBI Securities Co. Ltd. lifted its holdings in shares of PSQ by 83.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 12,390 shares of the company's stock valued at $25,000 after buying an additional 5,631 shares during the period. Man Group plc purchased a new position in PSQ during the fourth quarter valued at approximately $77,000. Toronto Dominion Bank acquired a new position in PSQ in the fourth quarter valued at approximately $91,000. Finally, XTX Topco Ltd acquired a new stake in shares of PSQ during the 1st quarter worth approximately $98,000. Hedge funds and other institutional investors 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.