BARK (NYSE:BARK) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded BARK (NYSE:BARK) from a "hold" rating to a "sell" rating in a report released on Saturday.
• BARK's recent quarterly earnings revealed a negative net margin of 6.34% and a revenue of $115.41 million, which was below analyst expectations of $126.74 million.
• Insider transactions show CFO Zahir Ibrahim purchased 58,823 shares, increasing their position in the company by 19.25%.

Wall Street Zen downgraded shares of BARK (NYSE:BARK - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on BARK. 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. Jefferies Financial Group lowered their price objective on BARK from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, June 5th.

BARK Price Performance

BARK stock traded up $0.01 during trading hours on Friday, reaching $0.80. The stock had a trading volume of 847,556 shares, compared to its average volume of 1,078,076. The company has a market cap of $136.41 million, a price-to-earnings ratio of -4.72 and a beta of 1.88. The business's 50 day moving average price is $0.93 and its 200-day moving average price is $1.28. BARK has a 52 week low of $0.77 and a 52 week high of $2.56.

BARK (NYSE:BARK - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. BARK had a negative net margin of 6.34% and a negative return on equity of 14.70%. The firm had revenue of $115.41 million for the quarter, compared to the consensus estimate of $126.74 million. On average, sell-side analysts forecast that BARK will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Zahir Ibrahim acquired 58,823 shares of the stock in a transaction on Friday, June 13th. The shares were acquired at an average price of $0.86 per share, for a total transaction of $50,587.78. Following the transaction, the chief financial officer owned 364,378 shares in the company, valued at approximately $313,365.08. This trade represents a 19.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 139,378 shares of company stock valued at $125,337. Corporate insiders own 14.80% of the company's stock.

Institutional Investors Weigh In On BARK

Hedge funds have recently bought and sold shares of the stock. Cresset Asset Management LLC raised its stake in shares of BARK by 2.4% during the 4th quarter. Cresset Asset Management LLC now owns 223,300 shares of the company's stock worth $411,000 after buying an additional 5,205 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of BARK by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,362 shares of the company's stock worth $95,000 after buying an additional 7,813 shares during the period. ProShare Advisors LLC raised its stake in shares of BARK by 46.0% during the 4th quarter. ProShare Advisors LLC now owns 36,568 shares of the company's stock worth $67,000 after buying an additional 11,520 shares during the period. Wells Fargo & Company MN raised its stake in shares of BARK by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 77,215 shares of the company's stock worth $142,000 after buying an additional 15,355 shares during the period. Finally, CWM LLC raised its stake in shares of BARK by 100.1% during the 2nd quarter. CWM LLC now owns 42,221 shares of the company's stock worth $37,000 after buying an additional 21,118 shares during the period. Hedge funds and other institutional investors own 28.76% of the company's stock.

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.