BARK (NYSE:BARK) Downgraded to Sell Rating by Wall Street Zen

BARK (NYSE:BARK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts also recently commented on the stock. Canaccord Genuity Group lowered their target price on shares of BARK from $30.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Weiss Ratings cut shares of BARK from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $19.00 price objective on shares of BARK in a research report on Thursday, June 11th. Finally, Lake Street Capital set a $12.00 price objective on shares of BARK and gave the company a “buy” rating in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.33.

BARK Trading Down 5.8%

NYSE BARK opened at $8.59 on Friday. The firm has a market capitalization of $75.57 million, a P/E ratio of -2.39 and a beta of 1.93. The business has a fifty day simple moving average of $9.37 and a 200 day simple moving average of $12.48. BARK has a 12 month low of $8.15 and a 12 month high of $22.60.

BARK (NYSE:BARK) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.42. The business had revenue of $86.57 million for the quarter, compared to analysts’ expectations of $96.30 million. BARK had a negative return on equity of 42.27% and a negative net margin of 9.88%.During the same period last year, the business earned $0.01 EPS. As a group, sell-side analysts predict that BARK will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On BARK

A number of hedge funds have recently made changes to their positions in the business. Brevan Howard Capital Management LP purchased a new position in shares of BARK in the 2nd quarter worth about $32,000. XTX Topco Ltd purchased a new stake in BARK during the fourth quarter worth about $38,000. BNP Paribas Financial Markets increased its holdings in BARK by 323.4% during the third quarter. BNP Paribas Financial Markets now owns 50,438 shares of the company’s stock worth $42,000 after buying an additional 38,526 shares during the last quarter. Cerity Partners LLC raised its position in BARK by 58.1% in the second quarter. Cerity Partners LLC now owns 55,405 shares of the company’s stock worth $49,000 after acquiring an additional 20,359 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in BARK in the fourth quarter worth about $57,000. 28.76% of the stock is currently owned by institutional investors.

About BARK

BARK is a consumer products and services company focused on the canine market, offering a suite of subscription-based and direct‐to‐consumer offerings designed to meet the everyday needs of dogs and their owners. The company’s core business revolves around carefully curated boxes of toys, treats and chews, which are delivered monthly to subscribers through its flagship BarkBox service. Over time, BARK has expanded its reach beyond subscription, tapping into e-commerce and wholesale channels to broaden its customer base.

In addition to BarkBox, the company operates BarkShop, an online storefront that allows customers to purchase toys, grooming supplies and nutrition products on an a la carte basis.