Oppenheimer Trims Pinstripes (NYSE:PNST) Target Price to $5.00

Pinstripes (NYSE:PNST) had its price objective lowered by Oppenheimer from $6.00 to $5.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Pinstripes Price Performance

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 business has a fifty day moving average price of $2.18 and a 200-day moving average price of $2.81.

Pinstripes (NYSE:PNST) last released its earnings results on Wednesday, September 4th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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. Research analysts anticipate that Pinstripes will post -0.47 EPS for the current fiscal year.

Institutional Trading of Pinstripes

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

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.