FAT Brands (NASDAQ:FAT) Trading Down 15.2% – Should You Sell?

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

Analysts Set New Price Targets

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

FAT Brands Price Performance

The stock’s fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.98. The company has a market capitalization of $9.49 million, a price-to-earnings ratio of -0.04 and a beta of 1.25.

FAT Brands (NASDAQ:FAT) last posted 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 firm had revenue of $140.01 million for the quarter, compared to analyst estimates of $144.90 million. On average, sell-side analysts predict 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 raised its stake in FAT Brands Inc. (NASDAQ:FAT) by 105.1% during the third quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing. 6.90% of the stock is currently owned by hedge funds and other institutional investors.

About FAT Brands

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.