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

FAT Brands Inc. (NASDAQ:FAT) saw 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 company are sold short. Based on an average daily volume of 58,400 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds 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 FAT Brands Inc. (NASDAQ:FAT) in the fourth quarter, according to the company in its most recent disclosure 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 approximately 0.09% of FAT Brands as of its most recent SEC filing. Institutional investors and hedge funds own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

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

FAT Brands Stock Performance

FAT stock opened at $2.84 on Friday. FAT Brands has a 52 week low of $2.22 and a 52 week high of $7.77. The company has a market capitalization of $50.53 million, a PE ratio of -0.31 and a beta of 1.42. The company’s 50-day simple moving average is $2.85 and its 200 day simple moving average is $4.29.

FAT Brands (NASDAQ:FAT) last announced its 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 business had revenue of $145.28 million for the quarter, compared to analysts’ expectations of $157.45 million. On average, analysts forecast that FAT Brands will post -10.23 EPS for the current year.

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.