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

Pinstripes (NYSE:PNST) had its price objective reduced by equities research analysts at BTIG Research from $4.00 to $3.00 in a report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 257.14% from the company’s current price.

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

Pinstripes Stock Down 16.0 %

PNST traded down $0.16 on Wednesday, reaching $0.84. The stock had a trading volume of 22,296 shares, compared to its average volume of 76,906. The business’s 50-day moving average price is $0.77 and its two-hundred day moving average price is $1.81. Pinstripes has a 12-month low of $0.56 and a 12-month high of $16.00.

Pinstripes (NYSE:PNST) last announced 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 firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $34.45 million. On average, research analysts expect that Pinstripes will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Pinstripes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new stake in Pinstripes during the 2nd quarter valued at about $36,000. Horizon Wealth Management LLC acquired a new position in Pinstripes during the second quarter worth $46,000. Greenwood Gearhart Inc. acquired a new position in Pinstripes during the second quarter worth $70,000. Lakewood Asset Management LLC acquired a new stake in shares of Pinstripes in the 2nd quarter worth $246,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Pinstripes during the 3rd quarter worth $240,000. 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.