Once Upon A Farm (NYSE:OFRM – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $9.07 and last traded at $9.2740, with a volume of 7,902,585 shares. The stock had previously closed at $15.02.
More Once Upon A Farm News
Here are the key news stories impacting Once Upon A Farm this week:
- Neutral Sentiment: TD Cowen lowered its price target to $13 from $18 and maintained a Hold rating. The revised target still indicates potential upside from the price cited in the report, but the cut reflects a more cautious outlook. TD Cowen rating report
- Negative Sentiment: Once Upon A Farm recalled its Tractor Wheels soft-baked bars after the FDA reported three choking incidents involving the toddler snack. The recall raises product-safety and potential longer-term business-disruption concerns; one report said shares fell 37% on Nov. 2 and were about 47% below the $18 IPO price. Recall and investor scrutiny report
- Negative Sentiment: Analysts cut expectations following the recall: Bank of America downgraded OFRM from Buy to Underperform and reduced its target to $10 from $21; JPMorgan cut its target to $13 from $26. These moves reinforce concern about the recall’s impact. Analyst downgrades and recall impact
- Negative Sentiment: Several law firms announced investigations into whether the company made misleading statements about the snack’s safety or violated securities laws. These are investigations, not findings of wrongdoing, but they add potential legal and reputational risk. Holzer & Holzer investigation announcement
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on OFRM shares. Wall Street Zen cut shares of Once Upon A Farm from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Weiss Ratings raised shares of Once Upon A Farm from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of 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. Freedom Broker initiated coverage on Once Upon A Farm in a research report on Thursday, October 8th. They set a “buy” rating and a $24.50 target price for the company. Finally, Barclays boosted their target price on Once Upon A Farm from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.39.
Read Our Latest Analysis on OFRM
Once Upon A Farm Stock Performance
The stock’s 50 day moving average price is $16.17 and its 200-day moving average price is $17.38.
Once Upon A Farm (NYSE:OFRM – Get Free Report) last posted its quarterly 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 company had revenue of $85.39 million during the quarter. As a group, sell-side analysts predict that Once Upon A Farm will post -0.22 EPS for the current fiscal year.
Institutional Trading of Once Upon A Farm
Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in Once Upon A Farm in the third quarter worth approximately $39,000. Bank of New York Mellon Corp bought a new position in Once Upon A Farm in the second quarter worth about $781,000. Inspire Investing LLC bought a new position in Once Upon A Farm in the third quarter worth about $638,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Once Upon A Farm during the third quarter valued at about $717,000. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Once Upon A Farm in the 2nd quarter valued at about $1,665,000.
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.
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