Pinstripes (NYSE:PNST) Price Target Cut to $2.00 by Analysts at Oppenheimer

Pinstripes (NYSE:PNST) had its price objective lowered by Oppenheimer from $5.00 to $2.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Separately, BTIG Research dropped their price target on Pinstripes from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday.

Pinstripes Trading Up 3.9 %

PNST stock opened at $0.80 on Wednesday. The business’s fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $1.77. Pinstripes has a twelve month low of $0.56 and a twelve month high of $16.00.

Pinstripes (NYSE:PNST) last released its 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 business had revenue of $30.60 million during the quarter, compared to analyst estimates of $34.45 million. Analysts forecast that Pinstripes will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Pinstripes

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