Wall Street Zen Upgrades BARK (NYSE:BARK) to Hold

Wall Street Zen upgraded shares of BARK (NYSE:BARK) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group cut their target price on BARK from $2.50 to $2.00 and set a “hold” rating on the stock in a report on Thursday, June 5th. Jefferies Financial Group dropped their price objective on BARK from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, June 5th.

BARK Trading Down 2.9%

Shares of BARK opened at $0.91 on Friday. The company has a market capitalization of $154.26 million, a PE ratio of -4.79 and a beta of 1.88. BARK has a 12 month low of $0.77 and a 12 month high of $2.56. The stock’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.46.

BARK (NYSE:BARK) last announced its earnings results on Wednesday, June 4th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $115.41 million for the quarter, compared to the consensus estimate of $126.74 million. BARK had a negative return on equity of 14.70% and a negative net margin of 6.79%. Equities research analysts predict that BARK will post -0.09 EPS for the current fiscal year.

Insider Activity

In other BARK news, CFO Zahir Ibrahim acquired 58,823 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $0.86 per share, with a total value of $50,587.78. Following the purchase, the chief financial officer directly owned 364,378 shares of the company’s stock, valued at $313,365.08. This trade represents a 19.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 139,378 shares of company stock valued at $125,337. 14.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in BARK by 464.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,446,340 shares of the company’s stock worth $2,661,000 after purchasing an additional 1,189,918 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in BARK during the 4th quarter worth approximately $444,000. Renaissance Technologies LLC increased its holdings in BARK by 183.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,257,898 shares of the company’s stock worth $2,315,000 after purchasing an additional 813,880 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in BARK by 373.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,589,523 shares of the company’s stock worth $2,925,000 after purchasing an additional 1,253,876 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in BARK by 68.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 906,435 shares of the company’s stock worth $1,668,000 after purchasing an additional 368,800 shares in the last quarter. 28.76% of the stock is owned by institutional investors and hedge funds.

About BARK

BARK Inc, a dog-centric company, provides products, services, and content for dogs. It operates in two segments, Direct to Consumer and Commerce. The company serves dogs through monthly subscription services. It is also involved in the design of playstyle-specific toys, satisfying treats, personal meal plans with supplements, and dog-first experiences designed to foster health and happiness of dogs everywhere.