Short Interest in FAT Brands Inc. (NASDAQ:FAT) Expands By 20.2%

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 968,666 shares, a growth of 20.2% from the December 15th total of 805,789 shares. Approximately 6.4% of the company’s stock are short sold. Based on an average daily volume of 150,673 shares, the short-interest ratio is presently 6.4 days. Based on an average daily volume of 150,673 shares, the short-interest ratio is presently 6.4 days. Approximately 6.4% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages have issued reports on FAT. Zacks Research upgraded FAT Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of FAT Brands in a report on Wednesday, October 8th. Finally, Noble Financial cut FAT Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, FAT Brands has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC raised its stake in FAT Brands Inc. (NASDAQ:FAT) by 105.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 30,473 shares of the company’s stock after buying an additional 15,617 shares during the quarter. Citadel Advisors LLC owned approximately 0.17% of FAT Brands worth $59,000 as of its most recent SEC filing. 6.90% of the stock is owned by institutional investors.

FAT Brands Trading Down 6.0%

NASDAQ FAT traded down $0.02 during trading hours on Monday, reaching $0.39. The company’s stock had a trading volume of 247,336 shares, compared to its average volume of 344,630. The business has a 50-day simple moving average of $0.59 and a 200 day simple moving average of $1.53. FAT Brands has a 52 week low of $0.31 and a 52 week high of $6.17. The stock has a market cap of $7.00 million, a PE ratio of -0.03 and a beta of 1.31.

FAT Brands (NASDAQ:FAT) last posted its earnings results on Wednesday, November 5th. The company reported ($3.39) EPS for the quarter, missing the consensus estimate of ($2.43) by ($0.96). The firm had revenue of $140.01 million during the quarter, compared to the consensus estimate of $144.90 million. As a group, equities analysts predict that FAT Brands will post -10.23 EPS for the current year.

About FAT Brands

FAT Brands is a global restaurant franchising company that owns and operates a diversified portfolio of quick-service and casual dining concepts. The company’s business model centers on acquiring established restaurant brands and expanding their reach through franchise relationships, corporate-owned locations and strategic partnerships. FAT Brands focuses on leveraging centralized support services—such as marketing, real estate, supply chain and technology infrastructure—to drive growth and profitability across its portfolio.

The company’s primary brands include Fatburger, a California-style burger chain known for its made-to-order hamburgers; Johnny Rockets, an American diner concept famed for its retro ambiance and milkshakes; Hurricane Grill & Wings, which specializes in wings with a variety of sauces and tropical ribs; Round Table Pizza, celebrated for its premium pizzas and “premium” crust; Elevation Burger, an organic, grass-fed burger franchise; and Twin Peaks, a sports-lodge concept offering made-from-scratch food and craft beverages.