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

FAT Brands Inc. (NASDAQ:FAT - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 206,300 shares, a growth of 105.9% from the January 31st total of 100,200 shares. Currently, 4.2% of the company's stock are short sold. Based on an average daily trading volume, of 48,200 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

Separately, Loop Capital dropped their target price on FAT Brands from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FAT Brands stock. Northern Trust Corp boosted its holdings in shares of FAT Brands Inc. (NASDAQ:FAT - Free Report) by 63.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,751 shares of the company's stock after purchasing an additional 12,287 shares during the quarter. Northern Trust Corp owned about 0.19% of FAT Brands worth $169,000 at the end of the most recent quarter. 6.90% of the stock is currently owned by institutional investors and hedge funds.

FAT Brands Trading Down 2.2 %

FAT stock traded down $0.07 during mid-day trading on Wednesday, hitting $3.15. The stock had a trading volume of 42,815 shares, compared to its average volume of 66,934. FAT Brands has a 1-year low of $3.05 and a 1-year high of $8.50. The company has a fifty day moving average of $4.59 and a 200 day moving average of $4.97. The stock has a market capitalization of $53.89 million, a price-to-earnings ratio of -0.34 and a beta of 1.82.

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FAT Brands (NASDAQ:FAT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share for the quarter, missing the consensus estimate of ($2.68) by ($1.38). The business had revenue of $145.28 million during the quarter, compared to the consensus estimate of $157.45 million. As a group, sell-side analysts expect that FAT Brands will post -10.23 earnings per share for the current fiscal year.

FAT Brands Company Profile

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.