BlackRock Fund Advisors recently announced the acquisition of new stake in BARK Inc. (NYSE:BARK). The institutional investor has increased its shareholding in the Consumer Cyclical company by 95.59% to 6.81 million shares with purchase of 3.33 million shares. This fresh investment now brings its stake to 3.83% valued currently at $9.19 million. In addition, Capital Research & Management Co raised its holdings by 2.0 million to 4.5 million shares. And The Vanguard Group, Inc. has lifted its position by 3.90% or 0.16 million shares – to 4.18 million shares.
With over 2.6 million BARK Inc. (BARK) shares trading Tuesday and a closing price of $1.11 on the day, the dollar volume was approximately $2.89 million. The shares have shown a negative half year performance of -49.08% and its price on 03/14/23 lost nearly -4.31%. Currently, there are 177.67M common shares owned by the public and among those 122.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for BARK have a consensus price objective of $4.30. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $2.20. The average price target is 74.19% above its recent price level and an upside to the estimated low will see the stock gain 49.55% over that period. But an upside of 84.14% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 4,420,320 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 276,896 shares.
The top 3 mutual fund holders in BARK Inc. are American Funds Small Cap World Fu, iShares Russell 2000 ETF, and Vanguard Total Stock Market Index. American Funds Small Cap World Fu owns 4.5 million shares of the company’s stock, all valued at over $6.08 million. The company bought an additional 2.0 million shares recently to bring their total holdings to about 2.53% of the shares outstanding. iShares Russell 2000 ETF sold 8118.0 shares to see its total holdings shrink to 2.57 million shares valued at over $3.47 million and representing 1.45% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.34% of the shares outstanding.
Shares of BARK Inc. (NYSE: BARK) opened at $1.19, up $0.03 from a prior closing price of $1.16. However, the script later moved the day high at 1.2000, down -4.31%. The company’s stock has a 5-day price change of -15.27% and -28.39% over the past three months. BARK shares are trading -25.50% year to date (YTD), with the 12-month market performance down to -61.32% lower. It has a 12-month low price of $1.11 and touched a high of $4.46 over the same period. BARK has an average intraday trading volume of 1.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -18.41%, -33.51%, and -35.94% respectively.
Institutional ownership of BARK Inc. (NYSE: BARK) shares accounts for 42.00% of the company’s 177.67M shares outstanding. Mutual fund holders own 12.45%, while other institutional holders and individual stakeholders account for 17.98% and 12.24% respectively.
It has a market capitalization of $205.54M. The earnings-per-share (ttm) stands at -$0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.21% over the week and 6.59% over the month.
Analysts forecast that BARK Inc. (BARK) will achieve an EPS of -$0.04 for the current quarter, -$0.03 for the next quarter and -$0.12 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -157.80%, and 51.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate BARK Inc. (BARK) as a “Strong Buy” at a consensus score of 1.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BARK, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 13, 2022, with the firm’s price target at $2. Lake Street coverage for the BARK Inc. (BARK) stock in a research note released on December 08, 2022 offered a Buy rating with a price target of $5. Citigroup was of a view on June 28, 2021 that the stock is Buy, while Canaccord Genuity gave the stock Buy rating on June 14, 2021, issuing a price target of $16. Jefferies on their part issued Buy rating on June 10, 2021.
