Pinstripes (NYSE:PNST) Given New $4.00 Price Target at BTIG Research

Pinstripes (NYSE:PNST) had its target price decreased by BTIG Research from $6.00 to $4.00 in a research note released on Thursday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Separately, Oppenheimer decreased their price target on shares of Pinstripes from $6.00 to $5.00 and set an outperform rating for the company in a research note on Thursday.

Pinstripes Stock Down 2.9 %

Shares of Pinstripes stock opened at $1.65 on Thursday. Pinstripes has a 52 week low of $1.55 and a 52 week high of $16.00. The stock’s fifty day moving average is $2.18 and its two-hundred day moving average is $2.81.

Pinstripes (NYSE:PNST) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.23) 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. As a group, research analysts predict that Pinstripes will post -0.47 EPS for the current year.

Institutional Trading of Pinstripes

Several institutional investors and hedge funds have recently made changes to their positions in PNST. Wealth Enhancement Advisory Services LLC purchased a new position in Pinstripes during the 2nd quarter valued at about $1,714,000. Rothschild Investment LLC purchased a new stake in shares of Pinstripes in the 2nd quarter worth approximately $36,000. Lakewood Asset Management LLC bought a new position in shares of Pinstripes during the second quarter valued at approximately $246,000. Greenwood Gearhart Inc. purchased a new position in Pinstripes during the second quarter valued at approximately $70,000. Finally, Horizon Wealth Management LLC bought a new position in Pinstripes in the second quarter worth approximately $46,000. 56.79% of the stock is currently owned by institutional investors.

Pinstripes Company Profile

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.