Once Upon A Farm's (NYSE:OFRM) Lock-Up Period Set To End on August 5th

Key Points

• Once Upon A Farm’s lock-up period expires August 5, allowing insiders and major shareholders to sell shares. The company issued 10,997,209 shares in its February 6 public offering at $18 per share, raising approximately $197.95 million.
• Analysts have a consensus “Hold” rating and an average price target of $26.12, though several firms recently lowered their targets and two analysts issued sell ratings.
• The stock opened at $15.71, with a market capitalization of about $658 million. First-quarter revenue rose 43.7% year over year to $72.72 million, but the company reported an adjusted loss of $0.59 per share, missing estimates by $0.38.

Once Upon A Farm's (NYSE:OFRM - Get Free Report) lock-up period is set to expire on Wednesday, August 5th. Once Upon A Farm had issued 10,997,209 shares in its public offering on February 6th. The total size of the offering was $197,949,762 based on an initial share price of $18.00. After the expiration of the company's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Ratings Changes

Several brokerages have issued reports on OFRM. Wall Street Zen lowered Once Upon A Farm from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings started coverage on Once Upon A Farm in a research report on Friday, May 1st. They set a "sell (e-)" rating on the stock. Barclays cut their target price on Once Upon A Farm from $20.00 to $18.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. TD Cowen reduced their price target on shares of Once Upon A Farm from $26.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, April 20th. Finally, Evercore set a $23.00 price target on shares of Once Upon A Farm in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.12.

Once Upon A Farm Trading Up 3.6%

OFRM stock opened at $15.71 on Wednesday. The company has a market capitalization of $658.36 million and a price-to-earnings ratio of -65.47. The firm has a 50 day simple moving average of $17.67. Once Upon A Farm has a 12-month low of $14.00 and a 12-month high of $27.00.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The organic kids food company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.38). The business had revenue of $72.72 million for the quarter. Once Upon A Farm's quarterly revenue was up 43.7% compared to the same quarter last year.

Once Upon A Farm Company Profile

Once Upon A Farm NYSE: OFRM is a U.S.-based producer of refrigerated organic foods for infants, toddlers and young children. The company’s product lineup emphasizes cold-pressed, organic purees, blends and smoothies formulated for early childhood nutrition. Its offerings are positioned around whole-food ingredients, limited processing and claims of no artificial preservatives or added sugars, with packaging designed for convenience and on-the-go feeding.

Once Upon A Farm distributes its products through a combination of retail and direct-to-consumer channels, serving customers primarily across the United States.

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