BTIG Research Cuts Pinstripes (NYSE:PNST) Price Target to $3.00

Pinstripes (NYSE:PNST) had its target price lowered by BTIG Research from $4.00 to $3.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Separately, Oppenheimer reduced their price objective on Pinstripes from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Pinstripes Stock Up 1.5 %

Pinstripes stock opened at $0.78 on Wednesday. The company has a fifty day simple moving average of $0.76 and a 200-day simple moving average of $1.78. Pinstripes has a 52-week low of $0.56 and a 52-week high of $16.00.

Pinstripes (NYSE:PNST) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.12). The company had revenue of $30.60 million for the quarter, compared to the consensus estimate of $34.45 million. Equities analysts anticipate that Pinstripes will post -0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinstripes

A number of institutional investors have recently bought and sold shares of PNST. Rothschild Investment LLC acquired a new stake in shares of Pinstripes during the 2nd quarter worth approximately $36,000. Horizon Wealth Management LLC purchased a new position in Pinstripes in the second quarter worth approximately $46,000. Greenwood Gearhart Inc. acquired a new stake in Pinstripes during the second quarter worth $70,000. Rockefeller Capital Management L.P. acquired a new stake in Pinstripes during the third quarter worth $240,000. Finally, Lakewood Asset Management LLC purchased a new stake in Pinstripes in the second quarter valued at $246,000. 56.79% of the stock is owned by hedge funds and other institutional investors.

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.