FAT Brands Inc. (NASDAQ:FAT) Short Interest Update

FAT Brands Inc. (NASDAQ:FAT) was the target of a large decline in short interest in the month of 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. Based on an average daily volume of 53,200 shares, the short-interest ratio is currently 2.5 days. Currently, 2.7% of the shares of the company are short sold.

Hedge Funds Weigh In On FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Northern Trust Corp boosted its position in shares of FAT Brands Inc. (NASDAQ:FAT) by 63.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing. Institutional investors and hedge funds own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

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

FAT Brands Price Performance

Shares of FAT Brands stock traded down $0.08 during trading hours on Monday, reaching $3.27. The company’s stock had a trading volume of 65,888 shares, compared to its average volume of 31,634. The firm has a 50 day moving average price of $4.25 and a 200-day moving average price of $4.85. FAT Brands has a one year low of $2.90 and a one year high of $8.00. The stock has a market cap of $58.18 million, a P/E ratio of -0.35 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last posted its earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.68) by ($1.38). The firm had revenue of $145.28 million for the quarter, compared to analysts’ expectations of $157.45 million. As a group, sell-side analysts forecast that FAT Brands will post -10.23 EPS for the current fiscal year.

About FAT Brands

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.