In a turbulent market environment, PNST stock has reached a new 52-week low, trading at $1.03. This latest price level reflects a significant downturn for the company, which has seen its stock value erode over the past year. The decline is underscored by the stark 1-year change data for Banyan Acquisition, which shows a precipitous drop of -89.92%. Investors are closely monitoring PNST's performance as it navigates through these challenging financial waters, with the hope for a potential rebound or strategic moves that could stabilize the stock in the future.
In other recent news, Pinstripes Holdings Inc is facing a reduced EBITDA outlook, leading Oppenheimer to cut its price target from $6.00 to $5.00, though it maintains an Outperform rating on the company's stock. This decision came after Pinstripes announced a decrease in its EBITDA guidance for 2025 to a range of $8 million to $12 million, a significant drop from the initial forecast of $19 million to $21 million. The company attributes this change to increased macroeconomic challenges that have led to a decrease in same-store sales, particularly in private events and dining and play trends.
Despite these challenges, Oppenheimer predicts an improvement in venue-level margins for the remainder of the fiscal year 2025, based on the implementation of new cost savings and anticipated stronger profitability metrics from newly opened stores. In line with Pinstripes' updated guidance, Oppenheimer has also revised its EBITDA estimates for the company for 2025 and 2026. The firm now projects an EBITDA of approximately $5.0 million for 2025 and $10.9 million for 2026, a decrease from the prior estimates of $17.2 million and $28.6 million, respectively. These are the recent developments for Pinstripes.
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