Pinstripes (NYSE:PNST) Price Target Lowered to $2.00 at Oppenheimer

Pinstripes (NYSE:PNST) had its price target reduced by Oppenheimer from $5.00 to $2.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

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

Pinstripes Stock Down 23.0 %

NYSE PNST opened at $0.77 on Wednesday. Pinstripes has a 52-week low of $0.56 and a 52-week high of $16.00. The company has a fifty day moving average of $0.77 and a 200-day moving average of $1.80.

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

Hedge Funds Weigh In On Pinstripes

A number of large investors have recently added to or reduced their stakes in PNST. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Pinstripes in the second quarter valued at about $1,714,000. Rockefeller Capital Management L.P. purchased a new position in shares of Pinstripes in the third quarter valued at about $240,000. Lakewood Asset Management LLC purchased a new position in shares of Pinstripes in the second quarter valued at about $246,000. Greenwood Gearhart Inc. purchased a new position in shares of Pinstripes in the second quarter valued at about $70,000. Finally, Horizon Wealth Management LLC purchased a new position in shares of Pinstripes in the second quarter valued at about $46,000. Hedge funds and other 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.