BARK (NYSE:BARK) Shares Climb 0.5% - Here's Why

Key Points

• BARK shares rose 0.5% to approximately $8.06, while trading volume fell 21% below the average daily volume.
• Analysts have a consensus “Hold” rating on BARK, with an average price target of $15.33; ratings include two Buys, two Holds and one Sell.
• BARK exceeded quarterly expectations, reporting earnings of $0.08 per share versus the projected $0.40 loss and revenue of $78.81 million versus estimates of $77.50 million, though profitability remained negative.

BARK, Inc. (NYSE:BARK - Get Free Report)'s share price shot up 0.5% on Monday. The stock traded as high as $8.11 and last traded at $8.0570. 36,448 shares traded hands during trading, a decline of 21% from the average daily volume of 46,219 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

A number of research analysts have issued reports on BARK shares. Weiss Ratings upgraded BARK from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 6th. Wall Street Zen raised BARK from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.33.

BARK Stock Performance

The stock has a market cap of $72.75 million, a price-to-earnings ratio of -2.25 and a beta of 1.98. The company's 50 day simple moving average is $9.51 and its 200 day simple moving average is $9.50.

BARK (NYSE:BARK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.48. The company had revenue of $78.81 million during the quarter, compared to analyst estimates of $77.50 million. BARK had a negative net margin of 8.42% and a negative return on equity of 35.66%.

Institutional Investors Weigh In On BARK

An institutional investor recently raised its position in BARK stock. Bank of America Corp DE raised its position in shares of BARK, Inc. (NYSE:BARK - Free Report) by 18.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,548 shares of the company's stock after purchasing an additional 21,325 shares during the quarter. Bank of America Corp DE owned about 1.57% of BARK worth $69,000 as of its most recent SEC filing. Institutional investors and hedge funds own 28.76% of the company's stock.

BARK Company Profile

BARK, Inc is a pet products company focused on dogs and their owners. The company develops and sells toys, treats, food and other products designed around dogs' health, wellness and enjoyment.

BARK offers its products through multiple brands and channels, including BARKBox, a subscription service that delivers curated toys and treats; Super Chewer, which features more durable toys and treats; and BARK Bright, an oral-care product line. The company also sells products through its website, retail partners and other distribution channels.

Founded in 2011, BARK initially built its business around subscription-based dog products before expanding into a broader omnichannel pet-products platform.

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.