Pinstripes (NYSE:PNST) Earns Outperform Rating from William Blair

Pinstripes (NYSE:PNST)‘s stock had its “outperform” rating reissued by equities researchers at William Blair in a research note issued to investors on Wednesday,RTT News reports.

Several other research firms have also commented on PNST. Oppenheimer decreased their target price on shares of Pinstripes from $5.00 to $2.00 and set an “outperform” rating on the stock in a report on Wednesday. BTIG Research lowered their price objective on shares of Pinstripes from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday.

Pinstripes Stock Down 20.0 %

PNST traded down $0.20 on Wednesday, reaching $0.80. The company had a trading volume of 61,696 shares, compared to its average volume of 77,076. The company’s fifty day moving average is $0.77 and its 200 day moving average is $1.81. Pinstripes has a fifty-two week low of $0.56 and a fifty-two week high of $16.00.

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

Institutional Trading of Pinstripes

Institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Pinstripes in the second quarter worth $36,000. Horizon Wealth Management LLC acquired a new stake in shares of Pinstripes in the 2nd quarter valued at about $46,000. Greenwood Gearhart Inc. acquired a new position in Pinstripes during the 2nd quarter worth approximately $70,000. Lakewood Asset Management LLC bought a new position in Pinstripes in the second quarter worth approximately $246,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Pinstripes in the third quarter valued at approximately $240,000. 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.