Krispy Kreme (NASDAQ:DNUT) Trading 7.6% Higher – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price shot up 7.6% on Tuesday . The stock traded as high as $3.84 and last traded at $3.9050. 576,032 shares were traded during mid-day trading, a decline of 91% from the average session volume of 6,126,014 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

DNUT has been the subject of several recent research reports. Zacks Research cut shares of Krispy Kreme from a “hold” rating to a “strong sell” rating in a report on Monday, August 25th. Singular Research raised Krispy Kreme to a “moderate buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Krispy Kreme in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Krispy Kreme in a research report on Wednesday, November 5th. Finally, Capital One Financial dropped their price target on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.51.

Krispy Kreme Stock Up 8.1%

The business’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.38. The stock has a market cap of $672.35 million, a price-to-earnings ratio of -1.31 and a beta of 1.33. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 1.31.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Krispy Kreme had a negative return on equity of 5.13% and a negative net margin of 33.27%.The company had revenue of $375.30 million during the quarter, compared to the consensus estimate of $378.29 million. During the same period in the previous year, the business earned ($0.01) EPS. Krispy Kreme’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Capstone Financial Advisors Inc. purchased a new stake in Krispy Kreme in the second quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Krispy Kreme during the second quarter worth about $30,000. R Squared Ltd acquired a new position in Krispy Kreme in the 2nd quarter valued at about $31,000. Prudential Financial Inc. acquired a new position in Krispy Kreme in the 2nd quarter valued at about $32,000. Finally, Russell Investments Group Ltd. lifted its position in Krispy Kreme by 1,229.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after acquiring an additional 7,832 shares during the period. Hedge funds and other institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.