Grabagun Digital (NYSE:PEW) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Grabagun Digital Holdings Inc. (NYSE:PEW) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $2.10 and traded as high as $2.19. Grabagun Digital shares last traded at $2.16, with a volume of 1,375,035 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on PEW shares. Roth Capital decreased their target price on shares of Grabagun Digital from $6.75 to $5.00 and set a “buy” rating on the stock in a report on Monday, August 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Grabagun Digital in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Grabagun Digital has a consensus rating of “Hold” and an average price target of $5.00.

Grabagun Digital Stock Performance

The company has a 50-day moving average of $2.10 and a 200 day moving average of $2.57. The company has a quick ratio of 8.61, a current ratio of 9.42 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $63.74 million, a PE ratio of -9.39 and a beta of -0.01.

Grabagun Digital (NYSE:PEW) last announced its earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Grabagun Digital had a negative return on equity of 6.15% and a negative net margin of 6.42%. The business had revenue of $23.22 million for the quarter. Equities research analysts predict that Grabagun Digital Holdings Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at Grabagun Digital

In related news, CFO Justin C. Hilty sold 16,384 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.25, for a total value of $36,864.00. Following the sale, the chief financial officer directly owned 74,517 shares of the company’s stock, valued at $167,663.25. This trade represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,549 shares of company stock valued at $48,269 in the last quarter. 27.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grabagun Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of PEW. SkyView Investment Advisors LLC increased its holdings in shares of Grabagun Digital by 10.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 100,086 shares of the company’s stock worth $228,000 after buying an additional 9,100 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Grabagun Digital during the 1st quarter valued at $135,000. Engineers Gate Manager LP lifted its holdings in shares of Grabagun Digital by 62.1% during the 2nd quarter. Engineers Gate Manager LP now owns 37,274 shares of the company’s stock worth $85,000 after acquiring an additional 14,277 shares during the last quarter. Finally, United Asset Strategies Inc. bought a new stake in shares of Grabagun Digital during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 4.80% of the company’s stock.

Grabagun Digital Company Profile

GrabAGun.com is an online retailer of firearms, ammunition and related accessories. GrabAGun.com, formerly known as Colombier Acquisition Corp. II, is based in COPPELL, Texas.