BARK, Inc. (NYSE:BARK) Short Interest Update

Key Points

• Short interest plunged 94.7% to 773,753 shares as of April 15, equal to 10.5% of the stock sold short and a days-to-cover of 7.0 based on average daily volume.
• Wall Street's consensus rating is a Hold (1 Buy, 2 Hold, 1 Sell) with an average price target of $35, while the stock trades near $9.55 and has a market cap of about $82.5M and a negative P/E.
• Institutional ownership stands at roughly 28.76%, with several firms (Renaissance Technologies, Wells Fargo, BNP Paribas, Cerity Partners) recently increasing their positions.

BARK, Inc. (NYSE:BARK - Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 773,753 shares, a drop of 94.7% from the March 31st total of 14,717,633 shares. Currently, 10.5% of the company's stock are sold short. Based on an average daily volume of 110,460 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of BARK from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Zacks Research upgraded shares of BARK to a "hold" rating in a research note on Tuesday, January 20th. Lake Street Capital set a $30.00 price objective on shares of BARK in a research note on Friday, February 6th. Finally, Canaccord Genuity Group reduced their price objective on shares of BARK from $30.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.00.

Institutional Trading of BARK

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC increased its position in BARK by 58.1% during 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. Brevan Howard Capital Management LP bought a new position in BARK during the second quarter worth $32,000. BNP Paribas Financial Markets increased its position 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 acquiring an additional 38,526 shares during the period. Wells Fargo & Company MN increased its position in BARK by 74.9% during the fourth quarter. Wells Fargo & Company MN now owns 106,808 shares of the company's stock worth $64,000 after acquiring an additional 45,737 shares during the period. Finally, Renaissance Technologies LLC increased its position in BARK by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 96,500 shares of the company's stock worth $58,000 after acquiring an additional 46,300 shares during the period. 28.76% of the stock is currently owned by institutional investors and hedge funds.

BARK Stock Performance

Shares of BARK stock traded up $0.10 on Friday, reaching $9.55. The stock had a trading volume of 41,389 shares, compared to its average volume of 90,169. The business's 50-day moving average price is $12.90 and its two-hundred day moving average price is $14.39. BARK has a fifty-two week low of $8.15 and a fifty-two week high of $28.40. The stock has a market cap of $82.51 million, a P/E ratio of -2.65 and a beta of 2.07.

BARK Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.