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

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 135,000 shares, a decrease of 34.6% from the February 13th total of 206,300 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily volume of 53,200 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

Separately, Loop Capital reduced their price objective on shares of FAT Brands from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th.

FAT Brands Stock Up 8.8 %

Shares of NASDAQ:FAT traded up $0.27 on Friday, reaching $3.35. 35,984 shares of the company’s stock 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. FAT Brands has a fifty-two week low of $2.90 and a fifty-two week high of $8.00. The business’s 50-day moving average is $4.25 and its two-hundred day moving average is $4.85.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings data 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 company had revenue of $145.28 million for the quarter, compared to analyst estimates of $157.45 million. Analysts predict that FAT Brands will post -10.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. FNY Investment Advisers LLC acquired a new stake in shares of FAT Brands Inc. (NASDAQ:FAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 own 6.90% of the company’s stock.

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.