BARK, Inc. (NYSE:BARK) Sees Large Drop in Short Interest

BARK, Inc. (NYSE:BARK) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 773,753 shares, a decline of 94.7% from the March 31st total of 14,717,633 shares. Based on an average trading volume of 110,460 shares, the short-interest ratio is currently 7.0 days. Currently, 10.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On BARK

Several large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its stake in BARK by 58.1% during the second quarter. Cerity Partners LLC now owns 55,405 shares of the company’s stock worth $49,000 after acquiring an additional 20,359 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in BARK during the second quarter worth approximately $32,000. BNP Paribas Financial Markets increased its stake in BARK by 323.4% during the third quarter. BNP Paribas Financial Markets now owns 50,438 shares of the company’s stock worth $42,000 after acquiring an additional 38,526 shares during the last quarter. Wells Fargo & Company MN increased its stake in BARK by 74.9% during the fourth quarter. Wells Fargo & Company MN now owns 106,808 shares of the company’s stock worth $64,000 after acquiring an additional 45,737 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of BARK by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 96,500 shares of the company’s stock valued at $58,000 after buying an additional 46,300 shares during the last quarter. 28.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BARK has been the topic of several research analyst reports. Canaccord Genuity Group reduced their target price on BARK from $30.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Lake Street Capital set a $30.00 target price on BARK in a report on Friday, February 6th. Wall Street Zen cut BARK from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research raised BARK to a “hold” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

BARK Trading Up 1.1%

NYSE BARK traded up $0.10 during trading hours on Friday, hitting $9.55. 41,389 shares of the company were exchanged, compared to its average volume of 88,504. The stock has a 50-day moving average price of $12.90 and a 200 day moving average price of $14.38. BARK has a 52 week low of $8.15 and a 52 week high of $28.40.

About BARK

BARK is a consumer products and services company focused on the canine market, offering a suite of subscription-based and direct‐to‐consumer offerings designed to meet the everyday needs of dogs and their owners. The company’s core business revolves around carefully curated boxes of toys, treats and chews, which are delivered monthly to subscribers through its flagship BarkBox service. Over time, BARK has expanded its reach beyond subscription, tapping into e-commerce and wholesale channels to broaden its customer base.

In addition to BarkBox, the company operates BarkShop, an online storefront that allows customers to purchase toys, grooming supplies and nutrition products on an a la carte basis.