First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Short Interest Down 7.2% in January

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

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its stake in shares of First Watch Restaurant Group by 505.3% in the 3rd quarter. Barclays PLC now owns 172,515 shares of the company's stock valued at $2,690,000 after purchasing an additional 144,014 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $5,757,000. Geode Capital Management LLC lifted its stake in shares of First Watch Restaurant Group by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company's stock valued at $12,008,000 after purchasing an additional 91,416 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock valued at $30,988,000 after purchasing an additional 366,227 shares during the period. Finally, FMR LLC lifted its stake in shares of First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company's stock valued at $9,758,000 after purchasing an additional 54,282 shares during the period. Hedge funds and other institutional investors own 96.11% of the company's stock.

Wall Street Analyst Weigh In

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

First Watch Restaurant Group Trading Down 2.0 %

NASDAQ FWRG traded down $0.41 on Friday, hitting $20.27. The company's stock had a trading volume of 940,919 shares, compared to its average volume of 490,657. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $25.98. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The company's 50-day simple moving average is $19.72 and its 200 day simple moving average is $17.81. The firm has a market cap of $1.23 billion, a P/E ratio of 61.43, a PEG ratio of 3.51 and a beta of 0.91.

About First Watch Restaurant Group

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.