BTIG Research Trims Pinstripes (NYSE:PNST) Target Price to $4.00

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

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

Pinstripes Trading Down 2.9 %

Pinstripes stock opened at $1.65 on Thursday. Pinstripes has a 1 year low of $1.55 and a 1 year high of $16.00. The firm’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.81.

Pinstripes (NYSE:PNST) last announced its quarterly earnings results 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 business had revenue of $30.60 million for the quarter, compared to the consensus estimate of $34.45 million. On average, equities analysts forecast that Pinstripes will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Pinstripes

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