Pineapple Financial Inc. (NYSEAMERICAN:PAPL) Sees Significant Decrease in Short Interest

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 303,192 shares, a drop of 75.6% from the April 30th total of 1,240,561 shares. Based on an average daily volume of 681,437 shares, the short-interest ratio is currently 0.4 days. Currently, 1.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Pineapple Financial

An institutional investor recently bought a new position in Pineapple Financial stock. Polar Asset Management Partners Inc. purchased a new position in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned approximately 13.16% of Pineapple Financial as of its most recent SEC filing. Institutional investors own 0.25% of the company’s stock.

Pineapple Financial Stock Performance

Pineapple Financial stock remained flat at $1.07 during trading on Friday. 117,402 shares of the company traded hands, compared to its average volume of 438,647. Pineapple Financial has a 12-month low of $0.50 and a 12-month high of $9.53. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $0.91 and a 200 day simple moving average of $1.40. The stock has a market cap of $27.92 million, a PE ratio of -1.95 and a beta of 6.35.

Pineapple Financial Company Profile

Pineapple Financial Inc operates as a mortgage technology and brokerage company in Canada. The company provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers; and mortgage consultation services through field agents. It also operates MyPineapple, a technology platform that allows users to conduct their brokerage services. In addition, the company offers back office support services, such as digital and automated onboarding and set up, loan packaging and processing, digital document collection and client portals, loan maintenance activities, payroll, lender communication, reporting requirements for regulators and business management, cloud services, expense collections, document preparation, compliance, training, administration, and marketing.