Pineapple Financial (NYSEAMERICAN:PAPL) Shares Down 2.6% – Here’s Why

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) shares traded down 2.6% during trading on Tuesday . The stock traded as low as $1.12 and last traded at $1.12. 29,923 shares were traded during trading, a decline of 59% from the average daily volume of 73,793 shares. The stock had previously closed at $1.15.

Pineapple Financial Stock Down 1.9%

The business has a 50-day simple moving average of $1.03 and a two-hundred day simple moving average of $0.92. The company has a market capitalization of $26.79 million, a price-to-earnings ratio of -1.93 and a beta of 5.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.00 and a current ratio of 1.00.

Pineapple Financial (NYSEAMERICAN:PAPL) last released its earnings results on Monday, July 20th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $1.40. Pineapple Financial had a positive return on equity of 77.14% and a negative net margin of 92.89%.The business had revenue of $0.62 million for the quarter, compared to analyst estimates of $0.62 million.

Hedge Funds Weigh In On Pineapple Financial

A hedge fund recently bought a new position in Pineapple Financial stock. Polar Asset Management Partners Inc. bought 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. The firm bought 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned 13.16% of Pineapple Financial as of its most recent filing with the Securities and Exchange Commission. 0.25% of the stock is owned by hedge funds and other institutional investors.

About Pineapple Financial

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.