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

FAT Brands Inc. (NASDAQ:FAT) saw a large 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. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 53,200 shares, the short-interest ratio is currently 2.5 days.

FAT Brands Trading Up 8.8 %

Shares of FAT traded up $0.27 during trading hours on Friday, reaching $3.35. The company had a trading volume of 35,984 shares, compared to its average volume of 31,441. The firm has a 50 day simple moving average of $4.29 and a 200-day simple moving average of $4.87. The company has a market capitalization of $59.61 million, a price-to-earnings ratio of -0.36 and a beta of 1.83. FAT Brands has a 12-month low of $2.90 and a 12-month high of $8.00.

FAT Brands (NASDAQ:FAT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share (EPS) 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 analyst estimates of $157.45 million. Sell-side analysts forecast that FAT Brands will post -10.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Loop Capital cut 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.

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 shares of FAT Brands Inc. (NASDAQ:FAT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter. Institutional investors and hedge funds 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.