Zacks Investment Research upgraded shares of Good Times Restaurants Inc. (NASDAQ:GTIM) from a hold rating to a strong-buy rating in a research note released on Thursday. The brokerage currently has $3.50 price target on the stock.

According to Zacks, “Good Times Restaurants Inc. is a holding company. Through its wholly-owned subsidiary, they are engaged in the business of developing, owning, operating and franchising restaurants under the name Good Times Drive Thru Burgers. Good Times DriveThru Burgers restaurants are owned, operated and franchised by their subsidiary, Good Times Drive Thru Inc. Good Times Drive Thru Burgers restaurants feature a limited menu for drive-through and walk-up customers. “

Shares of Good Times Restaurants (NASDAQ:GTIM) opened at 3.20 on Thursday. Good Times Restaurants has a 52 week low of $2.75 and a 52 week high of $4.66. The company’s market capitalization is $39.35 million. The stock has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.32.

Good Times Restaurants (NASDAQ:GTIM) last issued its quarterly earnings results on Thursday, February 9th. The company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. Good Times Restaurants had a negative return on equity of 2.22% and a negative net margin of 1.24%. The company had revenue of $16.56 million for the quarter, compared to analysts’ expectations of $17.06 million. Equities research analysts expect that Good Times Restaurants will post ($0.20) EPS for the current year.

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In related news, major shareholder Delta Partners Lp purchased 392,007 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average price of $3.00 per share, for a total transaction of $1,176,021.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.37% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Good Times Restaurants stock. Granite Point Capital Management L.P. purchased a new position in Good Times Restaurants Inc. (NASDAQ:GTIM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 317,800 shares of the company’s stock, valued at approximately $1,109,000. Granite Point Capital Management L.P. owned approximately 2.59% of Good Times Restaurants as of its most recent filing with the SEC. Hedge funds and other institutional investors own 35.70% of the company’s stock.

Good Times Restaurants Company Profile

Good Times Restaurants Inc operates and franchises Good Times Burgers & Frozen Custard (Good Times) restaurants and Bad Daddy’s Burger Bar concept (Bad Daddy’s). The Company operates through two segments: Good Times Burgers and Frozen Custard restaurants, and Bad Daddy’s Burger Bar restaurants. Good Times is a quick service restaurant concept.

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