Winc (NYSEAMERICAN:WBEV) Price Target Cut to $2.00

Winc (NYSEAMERICAN:WBEVGet Rating) had its price target reduced by Lake Street Capital from $4.00 to $2.00 in a report released on Wednesday morning, The Fly reports.

Separately, Canaccord Genuity Group cut their price objective on shares of Winc from $4.00 to $2.00 in a research report on Thursday, September 22nd.

Winc Stock Down 4.1 %

Shares of WBEV opened at 0.47 on Wednesday. The stock has a market capitalization of $6.24 million and a PE ratio of -0.28. Winc has a one year low of 0.40 and a one year high of 11.05.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WBEV. Advisor Group Holdings Inc. purchased a new position in shares of Winc during the first quarter worth approximately $29,000. Federated Hermes Inc. grew its holdings in shares of Winc by 82.2% in the second quarter. Federated Hermes Inc. now owns 45,000 shares of the company’s stock worth $70,000 after purchasing an additional 20,300 shares during the last quarter. Finally, Vanguard Group Inc. bought a new position in shares of Winc in the third quarter worth approximately $62,000. 12.80% of the stock is owned by hedge funds and other institutional investors.

Winc Company Profile

(Get Rating)

Winc, Inc engages in sourcing, bottling, labeling, and distributing wine under its own winery license in the United States and internationally. It operates through DTC and Wholesale segments. The company offers wines and non-alcoholic wines under the Summer Water, Wonderful Wine Company, Lost Poet, Folly of the Beast, Chop Shop, and Cherries and Rainbows brand names; and ready to drink cocktails, and spirits and beers.

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