Winc, Inc. (NYSEAMERICAN:WBEV – Get Rating)'s share price traded down 20% on Monday . The company traded as low as $0.13 and last traded at $0.14. 582,400 shares changed hands during trading, an increase of 133% from the average session volume of 250,366 shares. The stock had previously closed at $0.18.
Analyst Ratings Changes
A number of research analysts have recently issued reports on WBEV shares. Canaccord Genuity Group downgraded Winc from a "buy" rating to a "hold" rating and cut their price target for the company from $2.00 to $1.00 in a report on Wednesday, November 16th. Lake Street Capital cut their target price on Winc from $4.00 to $2.00 in a research note on Wednesday, November 16th.
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The company has a market cap of $1.86 million and a price-to-earnings ratio of -0.08.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in Winc in the third quarter valued at about $62,000. Advisor Group Holdings Inc. acquired a new position in shares of Winc during the first quarter valued at about $29,000. Finally, Federated Hermes Inc. raised its position in shares of Winc by 82.2% in the 2nd quarter. Federated Hermes Inc. now owns 45,000 shares of the company's stock valued at $70,000 after purchasing an additional 20,300 shares during the last quarter. 12.80% of the stock is currently owned by hedge funds and other institutional investors.
About Winc
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Winc, Inc engages in sourcing, bottling, labeling, and distributing wine under its own winery license in the United States and internationally. It operates through DTC and Wholesale segments. The company offers wines and non-alcoholic wines under the Summer Water, Wonderful Wine Company, Lost Poet, Folly of the Beast, Chop Shop, and Cherries and Rainbows brand names; and ready to drink cocktails, and spirits and beers.
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