Nathan's Famous (NASDAQ:NATH) Share Price Crosses Above 200 Day Moving Average - What's Next?

Nathan's Famous, Inc. (NASDAQ:NATH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $74.03 and traded as high as $91.56. Nathan's Famous shares last traded at $88.70, with a volume of 27,226 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Nathan's Famous from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th.

Nathan's Famous Stock Performance

The company has a market capitalization of $359.82 million, a PE ratio of 17.30 and a beta of 0.21. The stock's fifty day simple moving average is $81.60 and its 200-day simple moving average is $74.03.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $2.27 earnings per share for the quarter. Nathan's Famous had a negative return on equity of 66.80% and a net margin of 15.21%. The firm had revenue of $44.77 million during the quarter.

Hedge Funds Weigh In On Nathan's Famous

A number of hedge funds have recently added to or reduced their stakes in the company. Amica Mutual Insurance Co. bought a new position in Nathan's Famous during the second quarter valued at about $407,000. BNP Paribas Financial Markets boosted its position in Nathan's Famous by 5.3% during the first quarter. BNP Paribas Financial Markets now owns 4,546 shares of the restaurant operator's stock worth $322,000 after purchasing an additional 230 shares during the period. AE Wealth Management LLC acquired a new position in Nathan's Famous during the second quarter valued at approximately $813,000. Vanguard Group Inc. lifted its stake in shares of Nathan's Famous by 1.0% in the first quarter. Vanguard Group Inc. now owns 118,185 shares of the restaurant operator's stock worth $8,367,000 after buying an additional 1,128 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Nathan's Famous by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,290 shares of the restaurant operator's stock worth $2,189,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Nathan's Famous Company Profile

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.