PSQ Holdings, Inc. (NYSE:PSQH) Short Interest Up 25.2% in March

PSQ Holdings, Inc. (NYSE:PSQH) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,630,000 shares, a growth of 25.2% from the February 28th total of 2,100,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 9.5% of the company’s stock are short sold.

Institutional Investors Weigh In On PSQ

Institutional investors have recently modified their holdings of the company. Man Group plc purchased a new stake in PSQ during the 4th quarter worth about $77,000. Oxinas Partners Wealth Management LLC purchased a new stake in PSQ during the fourth quarter worth approximately $82,000. Toronto Dominion Bank acquired a new position in PSQ in the fourth quarter valued at approximately $91,000. Squarepoint Ops LLC purchased a new position in PSQ in the fourth quarter valued at approximately $109,000. Finally, Leavell Investment Management Inc. acquired a new stake in PSQ during the fourth quarter worth approximately $189,000. 17.32% of the stock is owned by hedge funds and other institutional investors.

PSQ Stock Down 0.5 %

PSQH stock traded down $0.01 during mid-day trading on Wednesday, reaching $2.19. The company had a trading volume of 838,704 shares, compared to its average volume of 1,337,881. The firm has a fifty day simple moving average of $3.11 and a 200 day simple moving average of $3.21. The company has a debt-to-equity ratio of 6.46, a quick ratio of 1.72 and a current ratio of 1.90. The company has a market capitalization of $93.98 million, a price-to-earnings ratio of -1.74 and a beta of -0.21. PSQ has a fifty-two week low of $2.00 and a fifty-two week high of $7.77.

PSQ (NYSE:PSQH) last issued its earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). PSQ had a negative net margin of 227.52% and a negative return on equity of 404.92%. The firm had revenue of $7.21 million during the quarter, compared to analyst estimates of $7.47 million. Analysts forecast that PSQ will post -1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSQH. Maxim Group initiated coverage on shares of PSQ in a report on Wednesday, January 15th. They issued a “buy” rating and a $8.00 price objective for the company. Roth Mkm dropped their price target on shares of PSQ from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 20th.

PSQ Company Profile

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.