FAT Brands Inc. (NASDAQ:FAT) Short Interest Up 39.8% in December

FAT Brands Inc. (NASDAQ:FAT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 805,789 shares, a growth of 39.8% from the November 30th total of 576,302 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily trading volume, of 653,939 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 653,939 shares, the days-to-cover ratio is presently 1.2 days. Currently, 5.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FAT Brands in a research report on Wednesday, October 8th. Zacks Research raised FAT Brands from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Noble Financial cut shares of FAT Brands from an “outperform” rating to a “market perform” rating in a report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

FAT Brands Stock Down 6.3%

Shares of NASDAQ FAT opened at $0.34 on Tuesday. The business has a 50-day moving average price of $0.98 and a 200 day moving average price of $1.73. The stock has a market cap of $6.14 million, a PE ratio of -0.03 and a beta of 1.26. FAT Brands has a 52-week low of $0.34 and a 52-week high of $6.17.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($3.39) EPS for the quarter, missing the consensus estimate of ($2.43) by ($0.96). The business had revenue of $140.01 million during the quarter, compared to the consensus estimate of $144.90 million. Sell-side analysts anticipate that FAT Brands will post -10.23 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC raised its holdings in FAT Brands Inc. (NASDAQ:FAT) by 105.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,473 shares of the company’s stock after purchasing an additional 15,617 shares during the quarter. Citadel Advisors LLC owned about 0.17% of FAT Brands worth $59,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 6.90% of the company’s stock.

About FAT Brands

FAT Brands is a global restaurant franchising company that owns and operates a diversified portfolio of quick-service and casual dining concepts. The company’s business model centers on acquiring established restaurant brands and expanding their reach through franchise relationships, corporate-owned locations and strategic partnerships. FAT Brands focuses on leveraging centralized support services—such as marketing, real estate, supply chain and technology infrastructure—to drive growth and profitability across its portfolio.

The company’s primary brands include Fatburger, a California-style burger chain known for its made-to-order hamburgers; Johnny Rockets, an American diner concept famed for its retro ambiance and milkshakes; Hurricane Grill & Wings, which specializes in wings with a variety of sauces and tropical ribs; Round Table Pizza, celebrated for its premium pizzas and “premium” crust; Elevation Burger, an organic, grass-fed burger franchise; and Twin Peaks, a sports-lodge concept offering made-from-scratch food and craft beverages.