BTIG Research Issues Pessimistic Forecast for Pinstripes (NYSE:PNST) Stock Price

Pinstripes (NYSE:PNST) had its price target decreased by analysts at BTIG Research from $4.00 to $3.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 257.14% from the stock’s previous close.

Separately, Oppenheimer reduced their target price on shares of Pinstripes from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Pinstripes Stock Down 16.0 %

NYSE:PNST traded down $0.16 during trading hours on Wednesday, reaching $0.84. 22,296 shares of the stock were exchanged, compared to its average volume of 76,906. Pinstripes has a twelve month low of $0.56 and a twelve month high of $16.00. The business has a 50-day moving average of $0.77 and a two-hundred day moving average of $1.81.

Pinstripes (NYSE:PNST) last released its earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.12). The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $34.45 million. Research analysts anticipate that Pinstripes will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Pinstripes in the second quarter valued at approximately $1,714,000. Rockefeller Capital Management L.P. purchased a new position in shares of Pinstripes in the 3rd quarter valued at $240,000. Lakewood Asset Management LLC acquired a new stake in Pinstripes during the 2nd quarter worth $246,000. Greenwood Gearhart Inc. acquired a new position in Pinstripes in the second quarter valued at $70,000. Finally, Horizon Wealth Management LLC purchased a new position in shares of Pinstripes during the second quarter worth about $46,000. Hedge funds and other institutional investors own 56.79% of the company’s stock.

Pinstripes Company Profile

Pinstripes Holdings Inc operates a dining and entertainment concept restaurants. The company provides Italian-American food and beverage menu with bowling, bocce, and event space. It also offers private event options and catering services. The company is based in Northbrook, Illinois.