BARK (NYSE:BARK) Rating Lowered 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 cut shares of BARK (NYSE:BARK - Free Report) from a hold rating to a sell rating in a research report report published on Saturday morning.

BARK has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on shares of 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 price objective on shares of BARK from $2.50 to $2.00 and set a "hold" rating for the company in a research note on Thursday, June 5th.

BARK Stock Performance

Shares of BARK stock traded down $0.00 on Friday, reaching $0.83. 199,721 shares of the company were exchanged, compared to its average volume of 1,070,650. The company has a market cap of $140.32 million, a price-to-earnings ratio of -4.91 and a beta of 1.88. The business has a 50-day moving average price of $0.91 and a 200 day moving average price of $1.27. BARK has a 1 year low of $0.77 and a 1 year high of $2.56.

BARK (NYSE:BARK - Get Free Report) last announced 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 15.32%. The company had revenue of $115.41 million during the quarter, compared to analysts' expectations of $126.74 million. As a group, equities analysts anticipate that BARK will post -0.09 earnings per share for the current year.

Insider Buying and Selling at BARK

In other news, CFO Zahir Ibrahim purchased 58,823 shares of the company's stock in a transaction dated Friday, June 13th. The stock was acquired at an average price of $0.86 per share, with a total value of $50,587.78. Following the purchase, the chief financial officer directly owned 364,378 shares in the company, valued at approximately $313,365.08. This represents a 19.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 139,378 shares of company stock valued at $125,337. Corporate insiders own 14.80% of the company's stock.

Institutional Trading of BARK

Several hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in shares of BARK in the 2nd quarter worth approximately $30,000. CWM LLC lifted its holdings in shares of BARK by 100.1% in the 2nd quarter. CWM LLC now owns 42,221 shares of the company's stock worth $37,000 after acquiring an additional 21,118 shares during the last quarter. R Squared Ltd lifted its holdings in shares of BARK by 195.5% in the 2nd quarter. R Squared Ltd now owns 47,873 shares of the company's stock worth $42,000 after acquiring an additional 31,673 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of BARK in the 4th quarter worth approximately $49,000. Finally, BNP Paribas Financial Markets purchased a new position in BARK in the 4th quarter valued at approximately $57,000. Hedge funds and other institutional investors own 28.76% of the company's stock.

BARK Company Profile

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.