Potbelly Corp (NASDAQ:PBPB) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,644,600 shares, a decline of 9.8% from the July 31st total of 2,931,500 shares. Based on an average trading volume of 309,000 shares, the short-interest ratio is currently 8.6 days. Currently, 11.5% of the shares of the stock are sold short.
A number of brokerages have weighed in on PBPB. Maxim Group set a $4.00 target price on shares of Potbelly and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of Potbelly from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Potbelly from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus price target of $7.58.
Shares of NASDAQ PBPB traded down $0.11 during trading on Friday, reaching $4.83. The company had a trading volume of 109,128 shares, compared to its average volume of 260,530. Potbelly has a 52 week low of $3.10 and a 52 week high of $13.54. The stock has a market cap of $112.42 million, a PE ratio of 16.66 and a beta of 1.22. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.56 and a current ratio of 0.62. The business’s 50 day moving average price is $4.39 and its 200-day moving average price is $6.25.
Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.08). Potbelly had a positive return on equity of 0.10% and a negative net margin of 6.45%. The business had revenue of $105.60 million for the quarter, compared to analyst estimates of $106.01 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Potbelly will post -0.12 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of Potbelly during the 1st quarter worth approximately $26,000. BNP Paribas Arbitrage SA grew its position in shares of Potbelly by 20,439.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,724 shares of the company’s stock worth $40,000 after buying an additional 4,701 shares during the period. Marshall Wace LLP acquired a new stake in shares of Potbelly during the 2nd quarter worth approximately $66,000. Walleye Trading LLC acquired a new stake in shares of Potbelly during the 2nd quarter worth approximately $67,000. Finally, Bank of America Corp DE grew its position in shares of Potbelly by 97.1% during the 4th quarter. Bank of America Corp DE now owns 13,587 shares of the company’s stock worth $109,000 after buying an additional 6,695 shares during the period. Institutional investors own 60.94% of the company’s stock.
Potbelly Company Profile
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.
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