Potbelly (NASDAQ:PBPB) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Potbelly Corporation (NASDAQ:PBPB) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.21 and traded as high as $17.12. Potbelly shares last traded at $17.12, with a volume of 1,001,795 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark cut shares of Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Friday, September 12th. Weiss Ratings restated a “hold (c)” rating on shares of Potbelly in a research report on Wednesday, October 8th. Lake Street Capital cut shares of Potbelly from a “buy” rating to a “hold” rating and raised their price objective for the company from $15.00 to $17.12 in a research report on Thursday, September 11th. Finally, Craig Hallum cut shares of Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 price objective for the company. in a research report on Wednesday, September 10th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.41.

Potbelly Stock Performance

The firm’s 50-day moving average price is $15.21 and its 200 day moving average price is $12.24. The company has a market cap of $518.05 million, a price-to-earnings ratio of 48.92 and a beta of 1.52.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Monday, January 9th. The company reported ($0.05) EPS for the quarter. Potbelly had a return on equity of 16.31% and a net margin of 2.30%.The business had revenue of $101.69 million for the quarter. Potbelly has set its Q4 2022 guidance at EPS. As a group, equities research analysts predict that Potbelly Corporation will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PBPB. New York State Teachers Retirement System bought a new position in Potbelly during the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets boosted its stake in Potbelly by 53.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,532 shares of the company’s stock worth $31,000 after acquiring an additional 881 shares during the last quarter. AlphaQuest LLC bought a new position in Potbelly during the 1st quarter worth approximately $57,000. CWM LLC boosted its stake in Potbelly by 224.4% during the 3rd quarter. CWM LLC now owns 4,130 shares of the company’s stock worth $70,000 after acquiring an additional 2,857 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Potbelly during the 2nd quarter worth approximately $139,000. Institutional investors own 72.60% of the company’s stock.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.