Pinstripes (NYSE:PNST) Stock Price Up 1.5% – Here’s Why

Pinstripes Holdings Inc. (NYSE:PNST) rose 1.5% during trading on Wednesday . The stock traded as high as $0.41 and last traded at $0.40. Approximately 42,952 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 68,920 shares. The stock had previously closed at $0.39.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PNST shares. BTIG Research decreased their price objective on Pinstripes from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Oppenheimer reduced their target price on Pinstripes from $5.00 to $2.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, William Blair reiterated an “outperform” rating on shares of Pinstripes in a report on Wednesday, November 27th.

Pinstripes Stock Performance

The company has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.98.

Pinstripes (NYSE:PNST) last issued its quarterly earnings results on Tuesday, November 26th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). On average, equities analysts predict that Pinstripes Holdings Inc. will post -0.86 EPS for the current year.

Institutional Trading of Pinstripes

A hedge fund recently bought a new stake in Pinstripes stock. Raymond James Financial Inc. purchased a new stake in Pinstripes Holdings Inc. (NYSE:PNST) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 69,165 shares of the company’s stock, valued at approximately $27,000. Raymond James Financial Inc. owned approximately 0.17% of Pinstripes at the end of the most recent reporting period. 56.79% of the stock is currently owned by institutional investors and hedge funds.

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.