Pinstripes (NYSE:PNST) Price Target Cut to $4.00

Pinstripes (NYSE:PNST) had its price objective cut by BTIG Research from $6.00 to $4.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Oppenheimer lowered their price target on shares of Pinstripes from $6.00 to $5.00 and set an outperform rating on the stock in a research report on Thursday.

Pinstripes Stock Performance

PNST opened at $1.65 on Thursday. Pinstripes has a twelve month low of $1.55 and a twelve month high of $16.00. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.81.

Pinstripes (NYSE:PNST) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, sell-side analysts predict that Pinstripes will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Pinstripes

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Pinstripes in the 2nd quarter valued at about $1,714,000. Lakewood Asset Management LLC acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $246,000. Greenwood Gearhart Inc. acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $70,000. Horizon Wealth Management LLC acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $46,000. Finally, Rothschild Investment LLC acquired a new position in shares of Pinstripes in the 2nd quarter worth approximately $36,000. 56.79% of the stock is currently owned by institutional investors and hedge funds.

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.