PSQ Holdings, Inc. (NYSE:PSQH) Sees Significant Drop in Short Interest

PSQ Holdings, Inc. (NYSE:PSQH) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 251,349 shares, a decline of 91.3% from the June 30th total of 2,893,590 shares. Based on an average daily trading volume, of 54,784 shares, the short-interest ratio is presently 4.6 days. Currently, 8.8% of the shares of the company are sold short.

PSQ Price Performance

NYSE PSQH traded down $0.13 during trading on Friday, reaching $3.33. The company’s stock had a trading volume of 16,699 shares, compared to its average volume of 46,341. The firm has a fifty day moving average of $6.74 and a 200 day moving average of $9.64. PSQ has a one year low of $3.01 and a one year high of $42.60. The stock has a market capitalization of $10.82 million, a PE ratio of -0.27 and a beta of 0.44. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.69 and a quick ratio of 1.69.

PSQ (NYSE:PSQH) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.55) by $0.75. PSQ had a negative return on equity of 217.16% and a negative net margin of 143.15%.The firm had revenue of $8.16 million during the quarter, compared to the consensus estimate of $7.19 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of PSQ in a research report on Friday, July 17th. Wall Street Zen raised PSQ from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.50.

Hedge Funds Weigh In On PSQ

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC lifted its stake in shares of PSQ by 143.5% in the 4th quarter. Corient Private Wealth LLC now owns 126,627 shares of the company’s stock valued at $130,000 after acquiring an additional 74,627 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in PSQ by 1,463.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 30,992 shares of the company’s stock worth $32,000 after acquiring an additional 29,010 shares during the last quarter. Marshall Wace LLP grew its position in PSQ by 15.6% during the 4th quarter. Marshall Wace LLP now owns 716,901 shares of the company’s stock worth $738,000 after acquiring an additional 96,858 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in PSQ by 63.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,862,102 shares of the company’s stock worth $3,978,000 after purchasing an additional 1,493,338 shares during the period. Finally, HRT Financial LP purchased a new position in PSQ in the 4th quarter worth approximately $45,000. 17.32% of the stock is currently owned by institutional investors.

About PSQ

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. PSQ Holdings, Inc is headquartered in West Palm Beach, Florida.