Pineapple Financial (NYSEAMERICAN:PAPL) Shares Down 13.1% – Time to Sell?

Pineapple Financial Inc. (NYSEAMERICAN:PAPL)’s stock price fell 13.1% during mid-day trading on Friday . The stock traded as low as $1.0232 and last traded at $1.06. 343,754 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,542,575 shares. The stock had previously closed at $1.22.

Analysts Set New Price Targets

Separately, D. Boral Capital reissued a “buy” rating on shares of Pineapple Financial in a research report on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $100.00.

Pineapple Financial Stock Performance

The stock has a market capitalization of $1.06 million, a price-to-earnings ratio of -0.11 and a beta of 2.46. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $2.44 and its two-hundred day moving average is $3.68.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. bought a new stake in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 131,578 shares of the company’s stock, valued at approximately $741,000. Polar Asset Management Partners Inc. owned approximately 13.16% of Pineapple Financial as of its most recent filing with the Securities and Exchange Commission. 0.25% of the stock is currently owned by institutional investors and hedge funds.

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.