Pinstripes Holdings Inc. (NYSE:PNST) Short Interest Up 31.6% in March

Pinstripes Holdings Inc. (NYSE:PNST) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 251,600 shares, an increase of 31.6% from the March 15th total of 191,200 shares. Based on an average daily trading volume, of 142,700 shares, the short-interest ratio is currently 1.8 days. Currently, 1.1% of the company’s stock are sold short.

Pinstripes Trading Down 4.7 %

PNST traded down $0.15 on Monday, hitting $3.03. The company’s stock had a trading volume of 83,234 shares, compared to its average volume of 147,460. The stock’s 50 day simple moving average is $3.45. Pinstripes has a 12 month low of $2.85 and a 12 month high of $16.00.

Pinstripes (NYSE:PNST) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $32.16 million for the quarter, compared to the consensus estimate of $32.20 million. Research analysts forecast that Pinstripes will post -0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNST. William Blair began coverage on shares of Pinstripes in a research report on Monday, April 8th. They set an “outperform” rating for the company. Oppenheimer reissued an “outperform” rating and set a $6.00 target price on shares of Pinstripes in a research report on Thursday, February 22nd. Finally, BTIG Research began coverage on shares of Pinstripes in a report on Monday, January 29th. They issued a “buy” rating and a $6.00 price objective for the company.

Insider Buying and Selling at Pinstripes

In related news, CFO Anthony Querciagrossa bought 100,000 shares of Pinstripes stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $3.43 per share, with a total value of $343,000.00. Following the transaction, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at $343,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 22.80% of the company’s stock.

Pinstripes Company Profile

Pinstripes Holdings Inc operates a dining and entertainment concept restaurants. The company provides Italian-American food and beverage menu with bowling, bocce, and event space. It also offers private event options and catering services. The company is based in Northbrook, Illinois.