Pinstripes (NYSE:PNST) Price Target Cut to $3.00 by Analysts at BTIG Research

Pinstripes (NYSE:PNST) had its price objective reduced by BTIG Research from $4.00 to $3.00 in a research report report published on Wednesday, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

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

Pinstripes Stock Performance

NYSE PNST opened at $0.77 on Wednesday. Pinstripes has a one year low of $0.56 and a one year high of $16.00. The stock’s 50 day simple moving average is $0.77 and its 200 day simple moving average is $1.80.

Pinstripes (NYSE:PNST) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) earnings per share (EPS) 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 analysts’ expectations of $34.45 million. As a group, equities research analysts forecast that Pinstripes will post -0.65 EPS for the current fiscal year.

Institutional Trading of Pinstripes

Several hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new position in Pinstripes during the 2nd quarter worth about $36,000. Horizon Wealth Management LLC bought a new position in shares of Pinstripes in the 2nd quarter valued at about $46,000. Greenwood Gearhart Inc. bought a new position in shares of Pinstripes in the 2nd quarter valued at about $70,000. Lakewood Asset Management LLC bought a new position in shares of Pinstripes in the 2nd quarter valued at about $246,000. Finally, Rockefeller Capital Management L.P. bought a new position in Pinstripes during the third quarter worth about $240,000. Institutional investors and hedge funds 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.