BTIG Research Has Lowered Expectations for Pinstripes (NYSE:PNST) Stock Price

Pinstripes (NYSE:PNST) had its price objective dropped by stock analysts at BTIG Research from $4.00 to $3.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 289.61% from the stock’s previous close.

Separately, Oppenheimer decreased their target price 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 Price Performance

Shares of NYSE PNST opened at $0.77 on Wednesday. Pinstripes has a 12-month low of $0.56 and a 12-month high of $16.00. The stock’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $1.79.

Pinstripes (NYSE:PNST) last posted its earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts expect that Pinstripes will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

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