First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Short Interest Update

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,650,000 shares, a decline of 7.2% from the January 15th total of 5,010,000 shares. Based on an average daily volume of 715,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 11.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Raymond James upped their price target on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. TD Cowen upped their price target on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Barclays upped their price target on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in First Watch Restaurant Group by 1.1% in the 3rd quarter. Jane Street Group LLC now owns 49,358 shares of the company’s stock worth $770,000 after acquiring an additional 551 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Watch Restaurant Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company’s stock valued at $321,000 after acquiring an additional 613 shares during the period. Assetmark Inc. lifted its holdings in First Watch Restaurant Group by 68.7% in the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after buying an additional 1,000 shares during the period. Mariner LLC lifted its holdings in First Watch Restaurant Group by 5.1% in the 4th quarter. Mariner LLC now owns 21,446 shares of the company’s stock worth $399,000 after buying an additional 1,033 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of First Watch Restaurant Group by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company’s stock worth $1,463,000 after acquiring an additional 2,033 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Trading Up 0.5 %

FWRG stock traded up $0.11 during mid-day trading on Monday, reaching $20.61. The company’s stock had a trading volume of 390,968 shares, compared to its average volume of 462,630. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 62.46, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The business’s 50 day moving average price is $19.61 and its 200 day moving average price is $17.72. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.