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

FAT Brands Inc. (NASDAQ:FAT) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 968,666 shares, an increase of 20.2% from the December 15th total of 805,789 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average trading volume of 150,673 shares, the days-to-cover ratio is currently 6.4 days. Based on an average trading volume of 150,673 shares, the days-to-cover ratio is currently 6.4 days. Approximately 6.4% of the shares of the company are short sold.

FAT Brands Stock Performance

FAT Brands stock opened at $0.38 on Wednesday. FAT Brands has a one year low of $0.31 and a one year high of $6.17. The company has a 50-day simple moving average of $0.54 and a 200-day simple moving average of $1.50. The firm has a market capitalization of $6.73 million, a P/E ratio of -0.03 and a beta of 1.31.

FAT Brands (NASDAQ:FAT) last posted its earnings results on Wednesday, November 5th. The company reported ($3.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.43) by ($0.96). The business had revenue of $140.01 million for the quarter, compared to analysts’ expectations of $144.90 million. As a group, sell-side analysts forecast that FAT Brands will post -10.23 earnings per share for the current year.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC lifted its stake in FAT Brands Inc. (NASDAQ:FAT) by 105.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,473 shares of the company’s stock after acquiring an additional 15,617 shares during the period. Citadel Advisors LLC owned 0.17% of FAT Brands worth $59,000 as of its most recent filing with the Securities and Exchange Commission. 6.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FAT. Zacks Research raised FAT Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of FAT Brands in a report on Wednesday, October 8th. Finally, Noble Financial lowered shares of FAT Brands from an “outperform” rating to a “market perform” rating in a report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.00.

About FAT Brands

FAT Brands is a global restaurant franchising company that owns and operates a diversified portfolio of quick-service and casual dining concepts. The company’s business model centers on acquiring established restaurant brands and expanding their reach through franchise relationships, corporate-owned locations and strategic partnerships. FAT Brands focuses on leveraging centralized support services—such as marketing, real estate, supply chain and technology infrastructure—to drive growth and profitability across its portfolio.

The company’s primary brands include Fatburger, a California-style burger chain known for its made-to-order hamburgers; Johnny Rockets, an American diner concept famed for its retro ambiance and milkshakes; Hurricane Grill & Wings, which specializes in wings with a variety of sauces and tropical ribs; Round Table Pizza, celebrated for its premium pizzas and “premium” crust; Elevation Burger, an organic, grass-fed burger franchise; and Twin Peaks, a sports-lodge concept offering made-from-scratch food and craft beverages.