Pinstripes (NYSE:PNST) Price Target Cut to $2.00 by Analysts at Oppenheimer

Pinstripes (NYSE:PNST) had its price objective cut by equities researchers at Oppenheimer from $5.00 to $2.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 144.02% from the company’s previous close.

Separately, BTIG Research reduced their price objective on Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday.

Pinstripes Price Performance

NYSE:PNST traded down $0.18 during trading hours on Wednesday, hitting $0.82. 36,077 shares of the stock were exchanged, compared to its average volume of 76,932. The firm’s fifty day moving average price is $0.77 and its 200 day moving average price is $1.81. Pinstripes has a 52-week low of $0.56 and a 52-week high of $16.00.

Pinstripes (NYSE:PNST) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.12). The company had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $34.45 million. On average, analysts expect that Pinstripes will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Pinstripes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Pinstripes during the second quarter worth about $36,000. Horizon Wealth Management LLC acquired a new stake in shares of Pinstripes in the second quarter valued at $46,000. Greenwood Gearhart Inc. purchased a new stake in shares of Pinstripes in the 2nd quarter valued at $70,000. Rockefeller Capital Management L.P. acquired a new position in Pinstripes during the 3rd quarter worth about $240,000. Finally, Lakewood Asset Management LLC purchased a new position in Pinstripes during the 2nd quarter valued at about $246,000. Institutional investors and hedge funds own 56.79% of the company’s stock.

About Pinstripes

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.