Pitanium (NASDAQ:PTNM) Trading Down 14.3% – Here’s What Happened

Pitanium Limited (NASDAQ:PTNM)’s stock price dropped 14.3% during mid-day trading on Friday . The stock traded as low as $9.80 and last traded at $10.39. Approximately 1,490,600 shares were traded during trading, The stock had previously closed at $12.12.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Pitanium in a research report on Monday, December 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pitanium has an average rating of “Sell”.

Pitanium Trading Down 14.3%

The firm’s 50 day simple moving average is $10.39.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pitanium stock. Vanguard Personalized Indexing Management LLC purchased a new stake in Pitanium Limited (NASDAQ:PTNM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,476 shares of the company’s stock, valued at approximately $312,000. Vanguard Personalized Indexing Management LLC owned about 0.11% of Pitanium at the end of the most recent quarter.

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. The brand “PITANIUM” was launched in 2019 and began by offering high-end skincare and haircare solutions to spas in Hong Kong.