FAT Brands (NASDAQ:FAT) Trading 4.6% Higher – What’s Next?

FAT Brands Inc. (NASDAQ:FAT)’s share price traded up 4.6% during mid-day trading on Wednesday . The company traded as high as $0.4116 and last traded at $0.4160. 57,859 shares traded hands during trading, a decline of 87% from the average session volume of 432,193 shares. The stock had previously closed at $0.3977.

Analyst Upgrades and Downgrades

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

FAT Brands Stock Performance

The firm has a fifty day simple moving average of $1.08 and a 200-day simple moving average of $1.79. The firm has a market cap of $7.46 million, a price-to-earnings ratio of -0.03 and a beta of 1.25.

FAT Brands (NASDAQ:FAT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.39) earnings per share for the quarter, missing the consensus estimate of ($2.43) by ($0.96). The firm had revenue of $140.01 million for the quarter, compared to the consensus estimate of $144.90 million. Analysts expect that FAT Brands Inc. will post -10.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FAT Brands

An institutional investor recently raised its position in FAT Brands stock. Citadel Advisors LLC increased its position in shares of FAT Brands Inc. (NASDAQ:FAT) by 105.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,473 shares of the company’s stock after purchasing an additional 15,617 shares during the period. Citadel Advisors LLC owned approximately 0.17% of FAT Brands worth $59,000 as of its most recent filing with the Securities and Exchange Commission. 6.90% of the stock is currently owned by institutional investors and hedge funds.

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.