Stock Traders Purchase Large Volume of First Watch Restaurant Group Call Options (NASDAQ:FWRG)

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) was the target of some unusual options trading on Monday. Stock investors purchased 6,994 call options on the stock. This represents an increase of 1,482% compared to the typical volume of 442 call options.

Wall Street Analyst Weigh In

FWRG has been the subject of several analyst reports. Weiss Ratings upgraded shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 29th. Citigroup dropped their price target on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Stephens reduced their target price on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Raymond James Financial decreased their price target on First Watch Restaurant Group from $20.00 to $18.00 and set a “strong-buy” rating for the company in a report on Friday, October 16th. Finally, Wall Street Zen raised shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.90.

Institutional Investors Weigh In On First Watch Restaurant Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in First Watch Restaurant Group by 9.0% in the second quarter. Arizona State Retirement System now owns 16,448 shares of the company’s stock valued at $212,000 after acquiring an additional 1,361 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in First Watch Restaurant Group by 0.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock worth $3,258,000 after buying an additional 1,450 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of First Watch Restaurant Group by 325.4% in the 2nd quarter. Allworth Financial LP now owns 2,225 shares of the company’s stock worth $29,000 after acquiring an additional 1,702 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of First Watch Restaurant Group by 25.3% in the 1st quarter. Sanctuary Advisors LLC now owns 13,462 shares of the company’s stock valued at $141,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of First Watch Restaurant Group in the 2nd quarter valued at $38,000. 96.11% of the stock is currently owned by institutional investors.

First Watch Restaurant Group News Summary

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Q3 adjusted earnings were $0.08 per share, above the $0.03 consensus estimate. Revenue rose 10.7% year over year to $349.9 million, slightly ahead of expectations; net income was $4.8 million and adjusted EBITDA was $39.7 million. First Watch Q3 2026 Financial Results
• Positive Sentiment: Management updated its 2026 revenue-growth outlook and outlined adjusted EBITDA growth of more than 15% through 2028. The company is targeting about 55 system-wide restaurant openings in 2027, supporting its longer-term expansion story. First Watch outlines growth and restaurant-opening targets
• Neutral Sentiment: Same-restaurant sales increased 1.0% in the quarter, a more modest result than total revenue growth and a sign that new restaurant openings contributed meaningfully to overall expansion. First Watch Q3 2026 Financial Results

First Watch Restaurant Group Stock Performance

NASDAQ FWRG opened at $13.63 on Wednesday. The company has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $12.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.22 and a current ratio of 0.27. First Watch Restaurant Group has a 52-week low of $9.88 and a 52-week high of $18.77. The company has a market capitalization of $841.11 million, a PE ratio of 47.00, a price-to-earnings-growth ratio of 58.49 and a beta of 1.00.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The company had revenue of $349.86 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same quarter in the previous year, the firm posted $0.05 EPS. First Watch Restaurant Group’s revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that First Watch Restaurant Group will post 0.14 EPS for the current year.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.