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

FAT Brands Inc. (NASDAQ:FAT) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 162,300 shares, an increase of 20.2% from the February 28th total of 135,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 55,700 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their price objective on FAT Brands from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th.

FAT Brands Trading Down 6.5 %

FAT traded down $0.19 on Thursday, reaching $2.72. The stock had a trading volume of 24,125 shares, compared to its average volume of 32,646. FAT Brands has a 12-month low of $2.71 and a 12-month high of $7.91. The business’s 50-day moving average price is $3.62 and its two-hundred day moving average price is $4.68. The company has a market cap of $48.40 million, a P/E ratio of -0.30 and a beta of 1.64.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($4.06) EPS for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The business had revenue of $145.28 million during the quarter, compared to the consensus estimate of $157.45 million. As a group, analysts predict that FAT Brands will post -10.23 earnings per share for the current year.

Hedge Funds Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Northern Trust Corp lifted its stake in shares of FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,751 shares of the company’s stock after purchasing an additional 12,287 shares during the period. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 as of its most recent filing with the Securities & Exchange Commission. 6.90% of the stock is owned by hedge funds and other institutional investors.

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.