Once Upon A Farm (NYSE:OFRM) Reaches New 1-Year Low – Here’s Why

Once Upon A Farm (NYSE:OFRM) shares reached a new 52-week low during mid-day trading on Monday. The company traded as low as $9.07 and last traded at $9.2740, with a volume of 7,902,585 shares changing hands. The stock had previously closed at $15.02.

Key Stories Impacting Once Upon A Farm

Here are the key news stories impacting Once Upon A Farm this week:

• Neutral Sentiment: The company held a shareholder and analyst call, but the available reports do not identify a new operating or financial catalyst that would offset the recall-related concerns. Shareholder/Analyst Call Transcript
• Negative Sentiment: Once Upon A Farm’s snack bars were recalled nationwide over a potential choking hazard, following reports involving toddlers. Coverage characterized the risk as potentially fatal, increasing the possibility of lost sales, product-recall expenses, retailer disruption and damage to consumer trust. Snack Bars Recalled Over Choking Hazard
• Negative Sentiment: Additional market coverage linked the sharp decline in OFRM to the recall, indicating investors are pricing in heightened uncertainty around the company’s products and near-term performance. Jennifer Garner’s Once Upon a Farm Stock Sinks on Product Recall
• Negative Sentiment: The Law Offices of Frank R. Cruz announced an investigation into potential securities-law violations related to the company’s disclosures on November 2. The announcement does not establish wrongdoing, but it adds litigation risk and may further pressure investor sentiment after the product-safety news. Securities Fraud Investigation Announcement

Analysts Set New Price Targets

A number of brokerages have commented on OFRM. Barclays boosted their price objective on shares of Once Upon A Farm from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings upgraded Once Upon A Farm from a “sell (e-)” rating to a “sell (e)” rating in a research note on Wednesday, August 12th. Freedom Broker initiated coverage on Once Upon A Farm in a research note on Thursday, October 8th. They set a “buy” rating and a $24.50 target price for the company. TD Cowen dropped their target price on Once Upon A Farm from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. boosted their price target on Once Upon A Farm from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.72.

Once Upon A Farm Price Performance

The business’s 50 day moving average price is $16.47 and its 200-day moving average price is $17.46.

Once Upon A Farm (NYSE:OFRM) last released its earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $85.39 million for the quarter. Sell-side analysts forecast that Once Upon A Farm will post -0.22 earnings per share for the current year.

Institutional Trading of Once Upon A Farm

Several hedge funds have recently bought and sold shares of OFRM. Inspire Investing LLC bought a new position in Once Upon A Farm in the 3rd quarter worth approximately $638,000. State of Alaska Department of Revenue bought a new stake in Once Upon A Farm during the 3rd quarter valued at $39,000. State Street Corp bought a new stake in Once Upon A Farm during the 2nd quarter valued at $3,395,000. Alyeska Investment Group L.P. acquired a new position in Once Upon A Farm during the 2nd quarter worth $10,240,000. Finally, Public Employees Retirement System of Ohio boosted its position in Once Upon A Farm by 18.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,967 shares of the organic kids food company’s stock worth $1,781,000 after acquiring an additional 13,611 shares during the period.

About Once Upon A Farm

Once Upon a Farm is a U.S.-based food company focused on organic, refrigerated foods for babies, children and families. Its products are designed around fruits, vegetables and other minimally processed ingredients.

The company’s offerings have included refrigerated baby food pouches, toddler meals, kids’ snacks, smoothies and other family-oriented products. Once Upon a Farm distributes its products through grocery retailers, mass merchants and online channels in the United States.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner joining as a co-founder and brand partner.