Grabagun Digital (NYSE:PEW) Stock Price Down 0.3% – Here’s Why

Grabagun Digital Holdings Inc. (NYSE:PEW) 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 were traded 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

Several equities research analysts have recently issued reports on the company. Roth Capital lowered their price target on Grabagun Digital from $6.75 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grabagun Digital in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Grabagun Digital presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Grabagun Digital Trading Down 0.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 9.42 and a quick ratio of 8.61. The company has a market capitalization of $55.34 million, a price-to-earnings ratio of -8.15 and a beta of -0.04. 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) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $23.22 million for the quarter. Grabagun Digital had a negative net margin of 6.42% and a negative return on equity of 6.15%. On average, equities analysts expect that Grabagun Digital Holdings Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Justin C. Hilty sold 16,384 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.25, for a total transaction of $36,864.00. Following the completion of the transaction, the chief financial officer directly owned 74,517 shares in the company, valued at $167,663.25. This represents a 18.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 insiders.

Institutional Trading of Grabagun Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in shares of Grabagun Digital during the 1st quarter worth about $135,000. United Asset Strategies Inc. bought a new stake in shares of Grabagun Digital in the first quarter valued at about $47,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grabagun Digital in the fourth quarter valued at about $43,000. Engineers Gate Manager LP lifted its stake 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 valued at $85,000 after buying an additional 14,277 shares during the period. Finally, SkyView Investment Advisors LLC grew 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 worth $228,000 after buying an additional 9,100 shares in the last quarter. 4.80% of the stock is currently owned by institutional investors and hedge funds.

About Grabagun Digital

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.