Short Interest in FAT Brands Inc. (NASDAQ:FAT) Rises By 114.2%

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 2,360,734 shares, an increase of 114.2% from the January 15th total of 1,101,866 shares. Currently, 15.6% of the shares of the company are sold short. Based on an average daily volume of 20,502,225 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 20,502,225 shares, the days-to-cover ratio is presently 0.1 days. Currently, 15.6% of the shares of the company are sold short.

FAT Brands Price Performance

Shares of FAT opened at $0.16 on Friday. FAT Brands has a 1 year low of $0.14 and a 1 year high of $4.01. The stock has a 50 day simple moving average of $0.34 and a two-hundred day simple moving average of $1.23. The firm has a market cap of $2.92 million, a P/E ratio of -0.01 and a beta of 1.34.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($3.39) EPS for the quarter, missing the consensus estimate of ($2.43) by ($0.96). The firm had revenue of $140.01 million during the quarter, compared to analysts’ expectations of $144.90 million. On average, equities analysts anticipate that FAT Brands will post -10.23 earnings per share for the current year.

Institutional Trading of FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC raised its stake in shares of FAT Brands Inc. (NASDAQ:FAT) by 105.1% during the 3rd quarter, according to its most recent filing with the SEC. 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 approximately 0.17% of FAT Brands worth $59,000 as of its most recent SEC filing. Institutional investors own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

FAT has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of FAT Brands in a research note on Thursday, January 22nd. Noble Financial downgraded shares of FAT Brands from an “outperform” rating to a “market perform” rating in a report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.