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

Key Points

• BARK (NYSE:BARK) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Following the downgrade, Canaccord Genuity reduced their price target for BARK shares from $2.50 to $2.00, while Jefferies lowered theirs from $4.00 to $3.00, showcasing a bearish sentiment among analysts.
• The stock is currently trading at $0.85, with a 12-month price range between $0.77 and $2.56, revealing significant volatility in its recent performance.

Wall Street Zen cut shares of BARK (NYSE:BARK - Free Report) from a hold rating to a sell rating in a research note released on Sunday.

BARK has been the subject of a number of other research reports. Jefferies Financial Group reduced their price objective on BARK from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, June 5th. Canaccord Genuity Group dropped their target price on BARK from $2.50 to $2.00 and set a "hold" rating on the stock in a research report on Thursday, June 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, BARK has an average rating of "Moderate Buy" and a consensus price target of $2.63.

BARK Price Performance

NYSE BARK traded down $0.02 on Friday, hitting $0.84. The stock had a trading volume of 334,239 shares, compared to its average volume of 1,016,344. The business's fifty day moving average price is $0.89 and its 200 day moving average price is $1.07. The stock has a market cap of $141.85 million, a price-to-earnings ratio of -4.92 and a beta of 1.88. BARK has a 52-week low of $0.77 and a 52-week high of $2.56.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BARK. Ameriprise Financial Inc. purchased a new stake in BARK in the 4th quarter worth approximately $444,000. Nuveen LLC acquired a new position in shares of BARK during the 1st quarter valued at $589,000. BNP Paribas Financial Markets acquired a new position in shares of BARK during the 4th quarter valued at $57,000. XTX Topco Ltd lifted its holdings in BARK by 71.1% in the 1st quarter. XTX Topco Ltd now owns 211,693 shares of the company's stock worth $294,000 after buying an additional 87,977 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in BARK by 169.9% in the 4th quarter. Squarepoint Ops LLC now owns 115,728 shares of the company's stock worth $213,000 after buying an additional 72,849 shares in the last quarter. 28.76% of the stock is owned by hedge funds and other institutional investors.

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.