Tattooed Chef (NASDAQ:TTCF) Rating Lowered to Sell at Zacks Investment Research

Tattooed Chef (NASDAQ:TTCF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Tattooed Chef Inc. is a plant-based food company offering portfolio of plant-based food products. The company’s products include ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls and cauliflower pizza crusts. Tattooed Chef Inc., formerly known as Forum Merger II Corporation, is based in PARAMOUNT, Calif. “

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $21.00 price objective on shares of Tattooed Chef in a research report on Tuesday, May 11th.

TTCF opened at $19.97 on Tuesday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -27.36 and a beta of 0.03. The firm has a 50 day simple moving average of $20.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.40 and a quick ratio of 5.48. Tattooed Chef has a 12-month low of $12.61 and a 12-month high of $28.64.

Tattooed Chef (NASDAQ:TTCF) last announced its quarterly earnings data on Wednesday, May 12th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.12). The business had revenue of $52.70 million during the quarter, compared to the consensus estimate of $46.40 million. During the same period in the prior year, the company earned $0.17 EPS. The company’s revenue for the quarter was up 58.7% on a year-over-year basis. As a group, equities research analysts expect that Tattooed Chef will post -0.06 EPS for the current year.

Several institutional investors have recently bought and sold shares of TTCF. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Tattooed Chef during the 1st quarter worth approximately $31,000. Institutional & Family Asset Management LLC bought a new position in shares of Tattooed Chef during the 1st quarter worth approximately $39,000. JPMorgan Chase & Co. bought a new position in shares of Tattooed Chef during the 1st quarter worth approximately $50,000. Royal Bank of Canada lifted its position in shares of Tattooed Chef by 167.8% during the 1st quarter. Royal Bank of Canada now owns 5,782 shares of the company’s stock worth $112,000 after buying an additional 3,623 shares during the period. Finally, Quantbot Technologies LP lifted its position in shares of Tattooed Chef by 79.2% during the 1st quarter. Quantbot Technologies LP now owns 6,562 shares of the company’s stock worth $127,000 after buying an additional 2,901 shares during the period. Institutional investors and hedge funds own 11.52% of the company’s stock.

About Tattooed Chef

Tattooed Chef, Inc, a plant-based food company, produces and sells a portfolio of frozen foods. It supplies plant-based products to retailers in the United States. The company offers ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, cauliflower crust pizza, and plant-based burgers.

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