Boot Barn $BOOT Stock In Downtrend On Dark Pool Selling

  • Post category:Dark Pool Stocks
  • Reading time:3 mins read
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Boot Barn $BOOT stock is in a strong downtrend channel and breaking all support levels after an unusual dark pool trade occurred in the stock in early October 2022.

Dark Pool Trading In Boot Barn Stock

The unusually large $10 million dark pool trade occurred on October 5, 2022. We think the dark pool trade was a sell order because of how Boot Barn $BOOT stock fell following the trade being made public.

Boot Barn stock on November 3, 2022, with a dark pool trade in an orange bar with a table to the right with the text TIME SYMBOL MESSAGE PRICE 10/05/22 BOOT 170,701 DARK BLOCK $10.0M 33.07% AvgVol $60.88 10/05/22 BOOT Unusual Dark Pool Activity $60.88

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Boot Barn price target lowered at Baird

On October 27, 2022, Baird analyst Jonathan Komp lowered his price target on Boot Barn to $75 from $80 and maintained an Outperform rating on the stock. The analyst noted that management expressed a confident outlook supported by continued strong execution. However, October comps have slowed so far, largely reflecting a decline in low-margin online sales. Therefore, they lowered their EPS estimate for 2023.

Boot Barn price target lowered at Citi

On October 27, 2022, Citi analyst Steven Zaccone lowered the company’s price target on Boot Barn to $93 from $99 and maintained a Buy rating on the stock after it released fiscal results. Guidance for fiscal 2023 was cut due to a weak start in October and a more conservative second half of the year, according to the research report. The analyst still thinks Boot Barns stock is too cheap for long-term growth potential.

Boot Barn $BOOT Stock Technical Analysis

Boot Barn $BOOT stock is in a technical strong downtrend. The stock has broken below major support at $55.41 and long-term indicators suggest the downtrend will continue.

Boot Barn stock chart on November 3, 2022, in downtrend channel chart pattern with a negative MACD and negative money flow.
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