Pinstripes (NYSE:PNST) Shares Up 4.2% – What’s Next?

Pinstripes Holdings Inc. (NYSE:PNST) shares were up 4.2% during mid-day trading on Friday . The stock traded as high as $0.79 and last traded at $0.76. Approximately 35,307 shares were traded during trading, a decline of 56% from the average daily volume of 80,898 shares. The stock had previously closed at $0.73.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BTIG Research reduced their price target on shares of Pinstripes from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Oppenheimer cut their price objective on Pinstripes from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Pinstripes Stock Up 4.2 %

The business has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $2.07.

Pinstripes (NYSE:PNST) last posted its quarterly 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, equities research analysts forecast that Pinstripes Holdings Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinstripes

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

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.