FAT Brands Inc. (NASDAQ:FATBB) Sees Large Drop in Short Interest

FAT Brands Inc. (NASDAQ:FATBB) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 2,100 shares, a drop of 66.1% from the January 31st total of 6,200 shares. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On FAT Brands

A hedge fund recently raised its stake in FAT Brands stock. Geode Capital Management LLC raised its stake in shares of FAT Brands Inc. (NASDAQ:FATBB) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 46,307 shares of the company’s stock after purchasing an additional 5,936 shares during the quarter. Geode Capital Management LLC’s holdings in FAT Brands were worth $225,000 as of its most recent filing with the SEC.

FAT Brands Stock Up 3.5 %

Shares of NASDAQ:FATBB traded up $0.11 on Friday, reaching $3.27. The company had a trading volume of 624 shares, compared to its average volume of 12,121. The stock has a 50-day moving average price of $4.53 and a 200 day moving average price of $4.69. FAT Brands has a twelve month low of $3.12 and a twelve month high of $8.00. The stock has a market capitalization of $55.96 million, a P/E ratio of -0.35 and a beta of 0.99.

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.