BARK (NYSE:BARK) Shares Up 0.5% – Should You Buy?

Shares of BARK, Inc. (NYSE:BARK) rose 0.5% during mid-day trading on Monday. The stock traded as high as $8.11 and last traded at $8.0570. Approximately 36,448 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 46,219 shares. The stock had previously closed at $8.02.

Analysts Set New Price Targets

BARK has been the topic of several recent analyst reports. Weiss Ratings upgraded BARK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of BARK from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.33.

BARK Trading Down 6.7%

The stock has a market cap of $67.60 million, a price-to-earnings ratio of -2.09 and a beta of 1.98. The company has a 50 day simple moving average of $9.47 and a 200-day simple moving average of $9.47.

BARK (NYSE:BARK) last released its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.48. BARK had a negative return on equity of 35.66% and a negative net margin of 8.42%. The firm had revenue of $78.81 million for the quarter, compared to analysts’ expectations of $77.50 million.

Institutional Trading of BARK

A hedge fund recently raised its stake in BARK stock. Bank of America Corp DE boosted its holdings in shares of BARK, Inc. (NYSE:BARK) by 18.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,548 shares of the company’s stock after purchasing an additional 21,325 shares during the period. Bank of America Corp DE owned about 1.57% of BARK worth $69,000 at the end of the most recent quarter. Institutional investors and hedge funds own 28.76% of the company’s stock.

About BARK

BARK, Inc is a pet products company focused on dogs and their owners. The company develops and sells toys, treats, food and other products designed around dogs’ health, wellness and enjoyment.

BARK offers its products through multiple brands and channels, including BARKBox, a subscription service that delivers curated toys and treats; Super Chewer, which features more durable toys and treats; and BARK Bright, an oral-care product line. The company also sells products through its website, retail partners and other distribution channels.

Founded in 2011, BARK initially built its business around subscription-based dog products before expanding into a broader omnichannel pet-products platform.