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

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 196,800 shares, a growth of 28.4% from the March 31st total of 153,300 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 58,400 shares, the days-to-cover ratio is presently 3.4 days.

FAT Brands Price Performance

FAT Brands stock opened at $2.84 on Friday. The stock has a market cap of $50.53 million, a PE ratio of -0.31 and a beta of 1.42. FAT Brands has a 12-month low of $2.22 and a 12-month high of $7.77. The business’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $4.29.

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 the consensus estimate of ($2.68) by ($1.38). The company had revenue of $145.28 million for the quarter, compared to the consensus estimate of $157.45 million. As a group, analysts expect that FAT Brands will post -10.23 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FAT Brands stock. FNY Investment Advisers LLC bought a new position in FAT Brands Inc. (NASDAQ:FAT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC filing. 6.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.