Once Upon A Farm (NYSE:OFRM) Shares Down 5.1% – Here’s What Happened

Once Upon A Farm (NYSE:OFRM)’s share price dropped 5.1% during mid-day trading on Wednesday. The stock traded as low as $16.35 and last traded at $16.33. 140,629 shares changed hands during trading, a decline of 73% from the average session volume of 517,158 shares. The stock had previously closed at $17.20.

Analysts Set New Price Targets

OFRM has been the topic of a number of analyst reports. Weiss Ratings upgraded Once Upon A Farm from a “sell (e-)” rating to a “sell (e)” rating in a report on Wednesday, August 12th. TD Cowen dropped their price target on Once Upon A Farm from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Barclays boosted their price target on Once Upon A Farm from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Freedom Broker began coverage on Once Upon A Farm in a research report on Thursday, October 8th. They issued a “buy” rating and a $24.50 price objective on the stock. Finally, Wall Street Zen raised Once Upon A Farm from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Once Upon A Farm currently has a consensus rating of “Hold” and a consensus price target of $25.72.

Once Upon A Farm Trading Up 2.5%

The stock’s 50 day moving average price is $16.82 and its 200 day moving average price is $16.85.

Once Upon A Farm (NYSE:OFRM) last released its earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $85.39 million during the quarter. Sell-side analysts forecast that Once Upon A Farm will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Once Upon A Farm

A number of large investors have recently bought and sold shares of OFRM. BlackRock Inc. grew its stake in shares of Once Upon A Farm by 225.9% during the 2nd quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company’s stock valued at $17,596,000 after buying an additional 595,571 shares during the period. Nicholas Investment Partners LP boosted its holdings in Once Upon A Farm by 271.9% in the second quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company’s stock valued at $16,060,000 after acquiring an additional 573,285 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Once Upon A Farm in the second quarter valued at $10,240,000. Jupiter Topco LLC acquired a new position in Once Upon A Farm in the second quarter valued at $9,468,000. Finally, State Street Corp purchased a new stake in Once Upon A Farm during the second quarter valued at about $3,395,000.

About Once Upon A Farm

Once Upon a Farm is a U.S.-based food company focused on organic, refrigerated foods for babies, children and families. Its products are designed around fruits, vegetables and other minimally processed ingredients.

The company’s offerings have included refrigerated baby food pouches, toddler meals, kids’ snacks, smoothies and other family-oriented products. Once Upon a Farm distributes its products through grocery retailers, mass merchants and online channels in the United States.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner joining as a co-founder and brand partner.