Pineapple Financial Inc. (NYSEAMERICAN:PAPL) Short Interest Up 147.2% in March

Pineapple Financial Inc. (NYSEAMERICAN:PAPL) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 585,442 shares, an increase of 147.2% from the February 26th total of 236,822 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 725,321 shares, the days-to-cover ratio is currently 0.8 days.

Pineapple Financial Price Performance

NYSEAMERICAN PAPL traded up $0.01 during trading hours on Friday, hitting $0.68. The company’s stock had a trading volume of 45,674 shares, compared to its average volume of 407,392. Pineapple Financial has a twelve month low of $0.20 and a twelve month high of $9.53. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $0.76 and a 200 day moving average of $2.71.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reaffirmed a “buy” rating on shares of Pineapple Financial in a research note on Thursday, December 4th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $100.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. acquired a new stake in shares of Pineapple Financial Inc. (NYSEAMERICAN:PAPL) during the 3rd quarter, according to the company in its most recent filing 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 approximately 13.16% of Pineapple Financial at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.25% of the company’s stock.

Pineapple Financial Company Profile

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.