Short Interest in FAT Brands Inc. (NASDAQ:FAT) Grows By 20.2%

FAT Brands Inc. (NASDAQ:FAT - Get Free Report) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 55,700 shares, the short-interest ratio is currently 2.9 days. Approximately 3.1% of the company's shares are sold short.

Analysts Set New Price Targets

Separately, Loop Capital reduced their target price on FAT Brands from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th.

FAT Brands Trading Down 8.7 %

Shares of NASDAQ:FAT traded down $0.22 during trading on Monday, hitting $2.32. 84,233 shares of the company's stock traded hands, compared to its average volume of 33,190. The company has a 50-day moving average price of $3.43 and a 200-day moving average price of $4.63. FAT Brands has a 52 week low of $2.29 and a 52 week high of $7.91. The company has a market cap of $41.28 million, a price-to-earnings ratio of -0.25 and a beta of 1.64.

FAT Brands (NASDAQ:FAT - Get Free Report) last released its quarterly 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 firm had revenue of $145.28 million for the quarter, compared to the consensus estimate of $157.45 million. On average, analysts predict that FAT Brands will post -10.23 earnings per share for the current fiscal year.

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Institutional Trading of FAT Brands

A hedge fund recently bought a new stake in FAT Brands stock. FNY Investment Advisers LLC bought a new stake in FAT Brands Inc. (NASDAQ:FAT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,069 shares of the company's stock, valued at approximately $85,000. FNY Investment Advisers LLC owned approximately 0.09% of FAT Brands as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 6.90% of the company's stock.

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.