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

FAT Brands Inc. (NASDAQ:FAT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 162,300 shares, an increase of 20.2% from the February 28th total of 135,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 55,700 shares, the short-interest ratio is presently 2.9 days.

FAT Brands Price Performance

FAT Brands stock traded up $0.11 during mid-day trading on Wednesday, reaching $2.91. 47,272 shares of the stock traded hands, compared to its average volume of 32,616. FAT Brands has a 12-month low of $2.71 and a 12-month high of $7.91. The business’s 50-day moving average is $3.68 and its 200-day moving average is $4.69. The stock has a market capitalization of $51.78 million, a PE ratio of -0.32 and a beta of 1.64.

FAT Brands (NASDAQ:FAT) last posted its quarterly earnings data 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 company had revenue of $145.28 million for the quarter, compared to the consensus estimate of $157.45 million. Equities analysts anticipate that FAT Brands will post -10.23 EPS for the current fiscal year.

Institutional Investors Weigh In On FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. FNY Investment Advisers LLC purchased a new stake in shares of FAT Brands Inc. (NASDAQ:FAT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,069 shares of the company’s stock, valued at approximately $85,000. FNY Investment Advisers LLC owned 0.09% of FAT Brands as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their target price 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.

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.