Pitanium Limited’s Lock-Up Period To Expire on November 26th (NASDAQ:PTNM)

Pitanium’s (NASDAQ:PTNM) lock-up period is set to end on Wednesday, November 26th. Pitanium had issued 1,750,000 shares in its initial public offering on May 30th. The total size of the offering was $7,000,000 based on an initial share price of $4.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pitanium in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Pitanium Trading Down 14.3%

NASDAQ:PTNM opened at $10.39 on Wednesday. The stock’s 50 day moving average price is $9.89. Pitanium has a 52-week low of $0.98 and a 52-week high of $14.79.

Hedge Funds Weigh In On Pitanium

A hedge fund recently bought a new stake in Pitanium stock. BNP Paribas Financial Markets purchased a new stake in Pitanium Limited (NASDAQ:PTNM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $147,000. BNP Paribas Financial Markets owned about 0.05% of Pitanium at the end of the most recent reporting period.

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.