Pitanium Limited’s (NASDAQ:PTNM) Lock-Up Period Set To End on November 26th

Pitanium’s (NASDAQ:PTNM) lock-up period is set to expire on Wednesday, November 26th. Pitanium had issued 1,750,000 shares in its initial public offering on May 30th. The total size of the offering was $7,000,000 based on an initial share price of $4.00. After the expiration of Pitanium’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Pitanium in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Pitanium has a consensus rating of “Sell”.

Pitanium Trading Down 14.3%

Shares of NASDAQ:PTNM opened at $10.39 on Friday. The company has a fifty day moving average of $10.10. Pitanium has a fifty-two week low of $0.98 and a fifty-two week high of $14.79.

Hedge Funds Weigh In On Pitanium

An institutional investor recently bought a new position in Pitanium stock. BNP Paribas Financial Markets purchased a new stake in Pitanium Limited (NASDAQ:PTNM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the company’s stock, valued at approximately $147,000. BNP Paribas Financial Markets owned approximately 0.05% of Pitanium as of its most recent SEC filing.

About Pitanium

Our Operating Subsidiary is a retailer in Hong Kong focusing on the sale of its proprietary brand products, namely PITANIUM and BIG PI online. It also generates revenue from the offline sale at six retail stores situated in Hong Kong’s premier shopping destinations. This positioning not only enhances the brand’s visibility but also aligns it with the discerning tastes of its target demographic.