Short Interest in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) Grows By 2,058.8%

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 1,240,561 shares, a growth of 2,058.8% from the April 15th total of 57,465 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily volume of 19,464,350 shares, the days-to-cover ratio is currently 0.1 days.

Pineapple Financial Stock Down 4.4%

PAPL traded down $0.05 on Monday, hitting $1.08. 356,721 shares of the company’s stock traded hands, compared to its average volume of 10,991,098. The company’s 50 day simple moving average is $0.78 and its 200-day simple moving average is $1.68. Pineapple Financial has a one year low of $0.20 and a one year high of $9.53. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.02.

Institutional Trading of Pineapple Financial

A hedge fund recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. acquired a new position in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned about 13.16% of Pineapple Financial at the end of the most recent reporting period. 0.25% of the stock is owned by 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.