Oppenheimer Has Lowered Expectations for Pinstripes (NYSE:PNST) Stock Price

Pinstripes (NYSE:PNST) had its price objective lowered by Oppenheimer from $5.00 to $2.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, BTIG Research decreased their price objective on Pinstripes from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday.

Pinstripes Trading Up 1.5 %

Pinstripes stock opened at $0.78 on Wednesday. The company has a 50 day moving average of $0.76 and a 200-day moving average of $1.78. Pinstripes has a twelve month low of $0.56 and a twelve month high of $16.00.

Pinstripes (NYSE:PNST) last announced 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 company had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $34.45 million. As a group, analysts anticipate that Pinstripes will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pinstripes during the 2nd quarter worth about $1,714,000. Rothschild Investment LLC bought a new stake in Pinstripes during the second quarter worth about $36,000. Greenwood Gearhart Inc. acquired a new position in Pinstripes during the second quarter valued at approximately $70,000. Lakewood Asset Management LLC bought a new position in Pinstripes in the second quarter valued at approximately $246,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Pinstripes during the 3rd quarter worth 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.