Pineapple Financial Inc. (NYSEAMERICAN:PAPL) Short Interest Update

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 140,447 shares, a drop of 34.2% from the July 30th total of 213,534 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 62,320 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. purchased a new stake in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned 13.16% of Pineapple Financial at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.25% of the company’s stock.

Pineapple Financial Price Performance

Shares of NYSEAMERICAN:PAPL traded down $0.01 during trading on Tuesday, reaching $0.99. The stock had a trading volume of 18,857 shares, compared to its average volume of 2,089,162. 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 has a 1-year low of $0.54 and a 1-year high of $9.13. The stock has a market cap of $24.95 million, a PE ratio of -1.79 and a beta of 5.56. The business has a fifty day moving average price of $1.03 and a 200-day moving average price of $0.92.

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

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.