Barfresh Food Group Stock (NASDAQ: BRFH) Gets A Big Upside Target Revision

Barfresh Food Group stock (NASDAQ: BRFH) has witnessed an significant upside revision from analyst firm Maxim. The investment firm's analyst Anthony Vendetti has raised the price target on the company from $3 to $6 while maintaining a “Buy” rating on the shares.

This upgraded outlook arrives as Barfresh continues to forge new customer relationships within the education sector, notably ahead of the upcoming school year.

Barfresh's stock ended the trading day at $3.69, a climb from the previous close of $3.42. This movement represents a 7.89% increase in the share price on the day, and brings the YTD total gain to 136%. With a market capitalization of $54million and a 52-week high of $4.28, the stock's performance today is showing a positive trend especially in light of the company's recent traction in signing deals with multiple school districts.

The company, founded in 2009, offers a diverse range of products including smoothies, shakes, and frappes through a variety of formats such as ready-to-drink smoothie, easy pour, and single serve concentrate formats.

Stationed in Los Angeles, California, the company is an innovator within the Beverages – Non-Alcoholic industry of the Consumer Defensive sector. Their operations include the manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages across the United States.

Echoing the confidence of Maxim’s revised price target, insiders hold a substantial 45.25% of the company, accompanied by institutional holdings of 19.20%. With over 14 million shares outstanding and about 5.7 million shares in float, the company's stock is influenced by a tight grip of insider and institutional stakeholders.

The revised price target set by Maxim reiterates a strong belief in Barfresh Food Group's prospective expansion and its foothold in the education channel. As the company prepares for the next school year with multiple new district deals, markets will likely be closely monitoring the company's progress and corresponding stock movements.