FAT Brands Inc. (NASDAQ:FAT) Short Interest Up 20.2% in March

FAT Brands Inc. (NASDAQ:FAT) was the target of a significant increase in short interest in 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 shares are sold short. Based on an average daily volume of 55,700 shares, the short-interest ratio is presently 2.9 days.

FAT Brands Stock Down 6.5 %

NASDAQ FAT opened at $2.72 on Friday. FAT Brands has a 52 week low of $2.66 and a 52 week high of $7.91. The company has a fifty day moving average of $3.56 and a two-hundred day moving average of $4.66. The firm has a market capitalization of $48.40 million, a price-to-earnings ratio of -0.30 and a beta of 1.64.

FAT Brands (NASDAQ:FAT) last issued its quarterly 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 company had revenue of $145.28 million during the quarter, compared to analysts’ expectations of $157.45 million. Equities research analysts anticipate that FAT Brands will post -10.23 EPS for the current year.

Institutional Trading of FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Northern Trust Corp raised its stake in FAT Brands Inc. (NASDAQ:FAT) by 63.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,751 shares of the company’s stock after buying an additional 12,287 shares during the period. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Loop Capital lowered their price objective on FAT Brands from $15.00 to $12.00 and set a “buy” rating for the company 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.