FAT Brands Inc. (NASDAQ:FAT) Sees Large Decrease in Short Interest

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 135,000 shares, a decline of 34.6% from the February 13th total of 206,300 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average daily trading volume, of 53,200 shares, the days-to-cover ratio is presently 2.5 days.

FAT Brands Stock Up 8.8 %

Shares of FAT traded up $0.27 during mid-day trading on Friday, hitting $3.35. The company had a trading volume of 35,984 shares, compared to its average volume of 31,441. The business’s 50-day simple moving average is $4.29 and its 200-day simple moving average is $4.87. FAT Brands has a 1-year low of $2.90 and a 1-year high of $8.00. The stock has a market cap of $59.61 million, a PE ratio of -0.36 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last released its earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The company had revenue of $145.28 million for the quarter, compared to analyst estimates of $157.45 million. On average, sell-side analysts expect that FAT Brands will post -10.23 earnings per share for the current year.

Analyst Ratings Changes

Separately, Loop Capital lowered their price target on shares of FAT Brands from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 4th.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently bought a new position in FAT Brands stock. FNY Investment Advisers LLC bought a new position in FAT Brands Inc. (NASDAQ:FAT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,069 shares of the company’s stock, valued at approximately $85,000. FNY Investment Advisers LLC owned about 0.09% of FAT Brands as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.90% of the company’s stock.

FAT Brands Company Profile

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.