William Blair Reaffirms “Outperform” Rating for Pinstripes (NYSE:PNST)

Pinstripes (NYSE:PNST)‘s stock had its “outperform” rating reissued by analysts at William Blair in a report released on Wednesday,RTT News reports.

A number of other analysts have also issued reports on the stock. Oppenheimer dropped their price objective on shares of Pinstripes from $5.00 to $2.00 and set an “outperform” rating on the stock in a research note on Wednesday. BTIG Research dropped their price objective on Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday.

Pinstripes Price Performance

Shares of NYSE:PNST opened at $0.77 on Wednesday. The business’s 50 day simple moving average is $0.76 and its 200-day simple moving average is $1.79. 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 company had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $34.45 million. Equities research analysts anticipate that Pinstripes will post -0.65 EPS for the current fiscal year.

Institutional Trading of Pinstripes

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pinstripes in the 2nd quarter valued at about $1,714,000. Rothschild Investment LLC bought a new position in shares of Pinstripes during the second quarter valued at approximately $36,000. Greenwood Gearhart Inc. acquired a new stake in shares of Pinstripes during the 2nd quarter worth approximately $70,000. Lakewood Asset Management LLC bought a new stake in shares of Pinstripes in the 2nd quarter worth approximately $246,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Pinstripes during the 3rd quarter valued at approximately $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.