FAT Brands (NASDAQ:FAT) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Shares of FAT Brands Inc. (NASDAQ:FAT) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.68 and traded as low as $2.71. FAT Brands shares last traded at $2.80, with a volume of 47,514 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their target price on FAT Brands from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 4th.

FAT Brands Price Performance

The business has a 50-day moving average of $3.68 and a two-hundred day moving average of $4.69. The company has a market cap of $49.82 million, a P/E ratio of -0.30 and a beta of 1.83.

FAT Brands (NASDAQ:FAT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($4.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.68) by ($1.38). The firm had revenue of $145.28 million for the quarter, compared to analyst estimates of $157.45 million. Equities analysts anticipate that FAT Brands Inc. will post -10.23 EPS for the current fiscal year.

Hedge Funds Weigh In On FAT Brands

An institutional investor recently bought a new position in FAT Brands stock. FNY Investment Advisers LLC bought a new position in shares of FAT Brands Inc. (NASDAQ:FAT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 16,069 shares of the company’s stock, valued at approximately $85,000. FNY Investment Advisers LLC owned about 0.09% of FAT Brands at the end of the most recent reporting period. Institutional investors and hedge funds own 6.90% of the company’s stock.

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.