Pineapple Financial (NYSEAMERICAN:PAPL) Shares Down 2.6% – Time to Sell?

Pineapple Financial Inc. (NYSEAMERICAN:PAPL)’s share price dropped 2.6% on Tuesday . The company traded as low as $1.12 and last traded at $1.12. 29,923 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 73,793 shares. The stock had previously closed at $1.15.

Pineapple Financial Price Performance

The business’s fifty day simple moving average is $1.03 and its 200-day simple moving average is $0.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.30 million, a P/E ratio of -2.04 and a beta of 5.57.

Pineapple Financial (NYSEAMERICAN:PAPL) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $1.40. Pineapple Financial had a positive return on equity of 77.14% and a negative net margin of 92.89%.The firm had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.62 million.

Institutional Inflows and Outflows

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

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.