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

PSQ Holdings, Inc. (NYSE:PSQH) saw a significant decline in short interest in the month of 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 days-to-cover ratio is currently 4.6 days. Currently, 8.8% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PSQH shares. Wall Street Zen upgraded shares of PSQ from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of PSQ in a research report on Friday, July 17th. One 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.50.

Hedge Funds Weigh In On PSQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harvest Investment Services LLC raised its holdings in PSQ by 1.8% in the third quarter. Harvest Investment Services LLC now owns 652,294 shares of the company’s stock worth $1,246,000 after buying an additional 11,412 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of PSQ by 15.6% during the fourth quarter. Marshall Wace LLP now owns 716,901 shares of the company’s stock valued at $738,000 after buying an additional 96,858 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PSQ by 13.0% during the second quarter. Geode Capital Management LLC now owns 333,355 shares of the company’s stock valued at $683,000 after buying an additional 38,391 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of PSQ during the third quarter valued at approximately $341,000. Finally, Corient Private Wealth LLC increased its position in shares of PSQ by 143.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 17.32% of the company’s stock.

PSQ Stock Down 3.8%

Shares of NYSE:PSQH traded down $0.13 during trading on Friday, hitting $3.33. The stock had a trading volume of 16,699 shares, compared to its average volume of 46,341. PSQ has a 12 month low of $3.01 and a 12 month high of $42.60. The company has a market capitalization of $10.82 million, a PE ratio of -0.27 and a beta of 0.44. The firm’s fifty day moving average is $6.74 and its 200 day moving average is $9.64. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 3.42.

PSQ (NYSE:PSQH) last released its earnings results on Thursday, May 7th. The company reported ($1.80) 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 company had revenue of $8.16 million during the quarter, compared to analysts’ expectations of $7.19 million.

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.