Wall Street Zen Downgrades BARK (NYSE:BARK) to Sell

BARK (NYSE:BARK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

BARK has been the subject of a number of other reports. Jefferies Financial Group cut their target price on 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 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 Down 0.9%

Shares of BARK stock opened at $0.79 on Friday. BARK has a 12 month low of $0.77 and a 12 month high of $2.56. The firm has a market cap of $134.86 million, a PE ratio of -4.67 and a beta of 1.88. The stock has a 50 day moving average of $0.93 and a 200-day moving average of $1.29.

BARK (NYSE:BARK) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $115.41 million during the quarter, compared to analyst estimates of $126.74 million. BARK had a negative return on equity of 14.70% and a negative net margin of 6.34%. As a group, equities analysts predict that BARK will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at BARK

In other BARK news, CFO Zahir Ibrahim bought 58,823 shares of the stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $0.86 per share, for a total transaction of $50,587.78. Following the completion of the purchase, the chief financial officer owned 364,378 shares in the company, valued at $313,365.08. This represents a 19.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 139,378 shares of company stock valued at $125,337 in the last three months. Company insiders own 14.80% of the company’s stock.

Institutional Trading of BARK

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Prescott Group Capital Management L.L.C. boosted its holdings in BARK by 1,150.5% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,974,218 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,816,345 shares during the last quarter. R Squared Ltd boosted its holdings in BARK by 195.5% during the second quarter. R Squared Ltd now owns 47,873 shares of the company’s stock worth $42,000 after buying an additional 31,673 shares during the last quarter. CWM LLC boosted its holdings in BARK by 100.1% during the second 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 last quarter. Byrne Asset Management LLC bought a new position in BARK during the second quarter worth about $30,000. Finally, Voya Investment Management LLC boosted its holdings in BARK by 43.6% during the first quarter. Voya Investment Management LLC now owns 230,608 shares of the company’s stock worth $321,000 after buying an additional 70,000 shares during the last quarter. 28.76% of the stock is currently owned by institutional investors and hedge funds.

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.