Pitanium (NASDAQ:PTNM) Trading Down 14.3% – Should You Sell?

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Pitanium in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Pitanium has a consensus rating of “Sell”.

Pitanium Stock Performance

The company has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $7.92.

Hedge Funds Weigh In On Pitanium

An institutional investor recently bought a new position in Pitanium stock. BNP Paribas Financial Markets acquired a new stake in Pitanium Limited (NASDAQ:PTNM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,000 shares of the company’s stock, valued at approximately $147,000. BNP Paribas Financial Markets owned 0.05% of Pitanium as of its most recent filing with the Securities and Exchange Commission.

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.