Short Interest in FAT Brands Inc. (NASDAQ:FAT) Declines By 34.6%

by · The Cerbat Gem

FAT Brands Inc. (NASDAQ:FAT – Get Free Report) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 135,000 shares, a drop 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 currently 2.5 days.

FAT Brands Stock Performance

Shares of FAT stock traded up $0.27 during trading on Friday, hitting $3.35. 35,984 shares of the company were exchanged, compared to its average volume of 31,497. The firm has a market capitalization of $59.61 million, a price-to-earnings ratio of -0.36 and a beta of 1.83. The business’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $4.85. FAT Brands has a twelve month low of $2.90 and a twelve month high of $8.00.

FAT Brands (NASDAQ:FAT – Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($4.06) earnings per share 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 analysts’ expectations of $157.45 million. On average, equities analysts forecast that FAT Brands will post -10.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Loop Capital decreased their target price 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.

Read Our Latest Stock Report on FAT

Hedge Funds Weigh In On FAT Brands

An institutional investor recently bought a new position in FAT Brands stock. FNY Investment Advisers LLC bought a new stake in FAT Brands Inc. (NASDAQ:FAT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,069 shares of the company’s stock, valued at approximately $85,000. FNY Investment Advisers LLC owned approximately 0.09% of FAT Brands as of its most recent filing with the SEC. 6.90% of the stock is currently owned by hedge funds and other institutional investors.

About FAT Brands

(Get Free Report)

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.

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