Grabagun Digital (NYSE:PEW) Trading 3.1% Higher – Here’s What Happened

Grabagun Digital Holdings Inc. (NYSE:PEW)’s stock price traded up 3.1% during mid-day trading on Thursday . The company traded as high as $3.10 and last traded at $2.96. 540,740 shares changed hands during mid-day trading, an increase of 214% from the average session volume of 172,468 shares. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Grabagun Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings assumed coverage on Grabagun Digital in a report on Monday, March 16th. They issued a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Grabagun Digital Stock Performance

The company has a quick ratio of 6.69, a current ratio of 7.19 and a debt-to-equity ratio of 0.06. The company has a market cap of $86.44 million, a P/E ratio of -26.73 and a beta of -0.08. The company has a 50-day simple moving average of $2.94.

Grabagun Digital (NYSE:PEW) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $29.62 million during the quarter, compared to analysts’ expectations of $27.80 million. As a group, equities analysts anticipate that Grabagun Digital Holdings Inc. will post -0.26 earnings per share for the current year.

Insider Activity

In other news, CEO Marc A. Nemati sold 10,016 shares of Grabagun Digital stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $2.82, for a total transaction of $28,245.12. Following the completion of the sale, the chief executive officer directly owned 2,523,317 shares in the company, valued at approximately $7,115,753.94. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 28,209 shares of company stock worth $80,856.

Hedge Funds Weigh In On Grabagun Digital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new stake in Grabagun Digital during the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Grabagun Digital in the fourth quarter valued at $43,000. United Asset Strategies Inc. purchased a new position in shares of Grabagun Digital in the first quarter valued at $47,000. Bridgeway Capital Management LLC acquired a new position in shares of Grabagun Digital during the 4th quarter worth $150,000. Finally, XTX Topco Ltd raised its stake in shares of Grabagun Digital by 195.7% during the 4th quarter. XTX Topco Ltd now owns 62,461 shares of the company’s stock worth $188,000 after buying an additional 41,335 shares during the last quarter. 4.80% of the stock is owned by institutional investors and hedge funds.

About Grabagun Digital

GrabAGun.com is an online retailer of firearms, ammunition and related accessories. GrabAGun.com, formerly known as Colombier Acquisition Corp. II, is based in COPPELL, Texas.