Potbelly Corp (NASDAQ:PBPB) Short Interest Down 9.8% in August

Potbelly Corp (NASDAQ:PBPB) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,644,600 shares, a decline of 9.8% from the July 31st total of 2,931,500 shares. Approximately 11.5% of the company’s stock are sold short. Based on an average daily volume of 309,000 shares, the days-to-cover ratio is currently 8.6 days.

Shares of PBPB stock traded down $0.11 during trading on Friday, reaching $4.83. The company’s stock had a trading volume of 109,128 shares, compared to its average volume of 260,530. The business has a fifty day moving average price of $4.39 and a 200-day moving average price of $6.25. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.89. The company has a market cap of $112.42 million, a price-to-earnings ratio of 16.66 and a beta of 1.22. Potbelly has a one year low of $3.10 and a one year high of $13.54.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.08). Potbelly had a positive return on equity of 0.10% and a negative net margin of 6.45%. The business had revenue of $105.60 million during the quarter, compared to the consensus estimate of $106.01 million. During the same period in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts anticipate that Potbelly will post -0.12 EPS for the current year.

A number of analysts have recently commented on PBPB shares. ValuEngine raised shares of Potbelly from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Potbelly from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Finally, Maxim Group set a $4.00 price objective on shares of Potbelly and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Potbelly currently has a consensus rating of “Sell” and an average target price of $7.58.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new stake in Potbelly during the first quarter worth $26,000. BNP Paribas Arbitrage SA raised its position in Potbelly by 20,439.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,724 shares of the company’s stock worth $40,000 after acquiring an additional 4,701 shares in the last quarter. Marshall Wace LLP bought a new stake in Potbelly during the second quarter worth $66,000. Walleye Trading LLC bought a new stake in Potbelly during the second quarter worth $67,000. Finally, Bank of America Corp DE raised its position in Potbelly by 97.1% during the fourth quarter. Bank of America Corp DE now owns 13,587 shares of the company’s stock worth $109,000 after acquiring an additional 6,695 shares in the last quarter. 60.94% of the stock is currently owned by hedge funds and other institutional investors.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.

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