Short Interest in BARK, Inc. (NYSE:BARK) Grows By 24.8%

Key Points

• Short interest in BARK rose 24.8% in March to 14,717,633 shares, leaving a days-to-cover ratio of 8.7 and approximately 199.9% of the company's stock reported sold short.
• Analysts carry a consensus Hold rating with an average price target of $35, though views are mixed (one Buy, two Hold, one Sell) and Canaccord recently cut its target from $30 to $15.
• BARK trades around $10.28 with a market cap near $88.8M, a negative P/E and a 52-week range of $8.15–$28.40, and about 28.8% of shares are held by institutions, highlighting its small-cap, volatile profile.

BARK, Inc. (NYSE:BARK - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 14,717,633 shares, an increase of 24.8% from the March 15th total of 11,791,076 shares. Based on an average daily volume of 1,697,021 shares, the days-to-cover ratio is currently 8.7 days. Approximately 199.9% of the company's stock are sold short.

Analysts Set New Price Targets

Several research analysts recently commented on BARK shares. Wall Street Zen upgraded shares of BARK from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Canaccord Genuity Group dropped their target price on shares of BARK from $30.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, April 2nd. Lake Street Capital set a $30.00 target price on shares of BARK in a report on Friday, February 6th. Finally, Zacks Research upgraded shares of BARK to a "hold" rating in a report on Tuesday, January 20th. One 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 MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.00.

Hedge Funds Weigh In On BARK

A number of large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in BARK by 627.8% in the first quarter. AQR Capital Management LLC now owns 154,257 shares of the company's stock valued at $214,000 after buying an additional 133,061 shares during the period. NewEdge Advisors LLC acquired a new position in BARK in the first quarter valued at approximately $65,000. Arrowstreet Capital Limited Partnership lifted its holdings in BARK by 15.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,692,503 shares of the company's stock valued at $1,489,000 after buying an additional 230,131 shares during the period. Gabelli Funds LLC lifted its holdings in BARK by 100.0% in the second quarter. Gabelli Funds LLC now owns 100,000 shares of the company's stock valued at $88,000 after buying an additional 50,000 shares during the period. Finally, Cerity Partners LLC lifted its holdings in BARK by 58.1% in the second quarter. Cerity Partners LLC now owns 55,405 shares of the company's stock valued at $49,000 after buying an additional 20,359 shares during the period. 28.76% of the stock is currently owned by institutional investors and hedge funds.

BARK Stock Up 1.3%

NYSE:BARK traded up $0.13 on Thursday, reaching $10.28. The stock had a trading volume of 54,249 shares, compared to its average volume of 86,869. The company has a market capitalization of $88.81 million, a P/E ratio of -2.86 and a beta of 2.07. BARK has a 1-year low of $8.15 and a 1-year high of $28.40. The stock has a fifty day moving average price of $13.77 and a 200-day moving average price of $14.69.

About BARK

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.