FAT Brands (NASDAQ:FAT) Trading Down 15.2% – Time to Sell?

by · The Cerbat Gem

FAT Brands Inc. (NASDAQ:FAT – Get Free Report) was down 15.2% during trading on Wednesday . The stock traded as low as $0.4912 and last traded at $0.5290. Approximately 609,860 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 443,858 shares. The stock had previously closed at $0.6238.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FAT shares. Zacks Research upgraded shares of FAT Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Noble Financial lowered FAT Brands from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of FAT Brands in a research report on Wednesday, October 8th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Get Our Latest Stock Report on FAT

FAT Brands Price Performance

The company has a fifty day simple moving average of $1.54 and a 200-day simple moving average of $1.98. The company has a market cap of $9.49 million, a P/E ratio of -0.04 and a beta of 1.25.

FAT Brands (NASDAQ:FAT – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($3.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.43) by ($0.96). The company had revenue of $140.01 million during the quarter, compared to analyst estimates of $144.90 million. On average, analysts anticipate that FAT Brands Inc. will post -10.23 EPS for the current year.

Institutional Trading of FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC grew its position in FAT Brands Inc. (NASDAQ:FAT – Free Report) by 105.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,473 shares of the company’s stock after buying an additional 15,617 shares during the quarter. Citadel Advisors LLC owned approximately 0.17% of FAT Brands worth $59,000 at the end of the most recent quarter. 6.90% of the stock is owned by institutional investors.

FAT Brands Company Profile

(Get Free Report)

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.

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