Pineapple Financial (NYSEAMERICAN:PAPL) Shares Down 4% – Time to Sell?

Shares of Pineapple Financial Inc. (NYSEAMERICAN:PAPL) dropped 4% during trading on Tuesday . The stock traded as low as $0.9457 and last traded at $0.9501. 52,309 shares traded hands during trading, a decline of 53% from the average daily volume of 111,612 shares. The stock had previously closed at $0.99.

Pineapple Financial Stock Performance

The company has a market cap of $24.79 million, a PE ratio of -1.73 and a beta of 5.73. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.15.

Hedge Funds Weigh In On Pineapple Financial

An institutional investor recently bought a new stake in Pineapple Financial stock. Polar Asset Management Partners Inc. acquired a new position in Pineapple Financial Inc. (NYSEAMERICAN:PAPL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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. Hedge funds and other 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.