Why Petros Pharmaceuticals Inc (NASDAQ: PTPI) Stock Should Not Be Discarded By Investors In 2024

In the last trading session, 2.01 million shares of the Petros Pharmaceuticals Inc (NASDAQ:PTPI) were traded, and its beta was 2.24. Most recently the company’s share price was $1.07, and it changed around -$0.33 or -23.57% from the last close, which brings the market valuation of the company to $2.35M. PTPI currently trades at a discount to its 52-week high of $9.54, offering almost -791.59% off that amount. The share price’s 52-week low was $0.92, which indicates that the current value has risen by an impressive 14.02% since then. We note from Petros Pharmaceuticals Inc’s average daily trading volume that its 10-day average is 0.81 million shares, with the 3-month average coming to 1.06 million.

Petros Pharmaceuticals Inc (NASDAQ:PTPI) trade information

Instantly PTPI has showed a red trend with a performance of -23.57% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -24.11% year-to-date, but still down -31.85% over the last five days. On the other hand, Petros Pharmaceuticals Inc (NASDAQ:PTPI) is -35.93% down in the 30-day period. We can see from the shorts that 88390.0 shares have been sold at a short interest cover period of 0.11 day(s).

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Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $1.55 million in revenue for the current quarter. 1 analysts expect Petros Pharmaceuticals Inc to make $1.54 million in revenue for the quarter ending Mar 2024.

PTPI Dividends

Petros Pharmaceuticals Inc’s next quarterly earnings report is expected to be released in May.

Petros Pharmaceuticals Inc (NASDAQ:PTPI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 36.85% of Petros Pharmaceuticals Inc shares, and 5.30% of them are in the hands of institutional investors. The stock currently has a share float of 8.40%. Petros Pharmaceuticals Inc stock is held by 17 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 1.51% of the shares, which is about 31811.0 shares worth $64576.0.

Schonfeld Strategic Advisors Llc, with 1.10% or 23200.0 shares worth $47096.0 as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 31811.0 shares worth $64576.0, making up 1.51% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 4888.0 shares worth around $11389.0, which represents about 0.23% of the total shares outstanding.