The stock of Famous Dave’s of America, Inc. (NASDAQ:DAVE) hit a new 52-week low and has $3.92 target or 12.00% below today’s $4.45 share price. The 9 months bearish chart indicates high risk for the $29.05M company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $3.92 price target is reached, the company will be worth $3.49M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 22,154 shares traded hands or 36.15% up from the average. Famous Dave’s of America, Inc. (NASDAQ:DAVE) has declined 21.82% since April 19, 2016 and is downtrending. It has underperformed by 25.68% the S&P500.
Famous Dave’s of America, Inc. (NASDAQ:DAVE) Ratings Coverage
Out of 3 analysts covering Famous Dave’s (NASDAQ:DAVE), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Famous Dave’s has been the topic of 3 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Famous Dave’s of America, Inc. (NASDAQ:DAVE) has “Buy” rating given on Wednesday, August 5 by Craig Hallum. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, September 9. The rating was downgraded by Sidoti to “Neutral” on Wednesday, November 4.
According to Zacks Investment Research, “Famous Dave’s owns, operates and franchises barbeque restaurants and blues clubs. The company currently owns locations and franchises locations in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Utah, Maryland and Virginia and has signed development agreements for an additional franchised locations. Its menu features award-winning barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts. (Press Release)”
Insitutional Activity: The institutional sentiment increased to 2.6 in Q2 2016. Its up 1.77, from 0.83 in 2016Q1. The ratio increased, as 4 funds sold all Famous Dave’s of America, Inc. shares owned while 8 reduced positions. 6 funds bought stakes while 4 increased positions. They now own 4.49 million shares or 1.47% less from 4.55 million shares in 2016Q1.
Pleasant Lake Partners Ltd Co has invested 3.73% of its portfolio in Famous Dave’s of America, Inc. (NASDAQ:DAVE). Federated Invsts Pa has 0% invested in the company for 927 shares. First Manhattan has invested 0% of its portfolio in Famous Dave’s of America, Inc. (NASDAQ:DAVE). Dimensional Fund L P holds 0% of its portfolio in Famous Dave’s of America, Inc. (NASDAQ:DAVE) for 178,751 shares. Blackrock Advisors Ltd Liability last reported 1,498 shares in the company. William Harris Investors has 0.01% invested in the company for 10,451 shares. Amg Trust Financial Bank, a Colorado-based fund reported 20,000 shares. Tower Rech Capital Ltd Liability Corp (Trc) has 227 shares for 0% of their US portfolio. The Texas-based Bridgeway Capital Inc has invested 0% in Famous Dave’s of America, Inc. (NASDAQ:DAVE). Moreover, Blackrock Investment Management Ltd Llc has 0% invested in Famous Dave’s of America, Inc. (NASDAQ:DAVE) for 736 shares. Renaissance Techs holds 268,200 shares or 0% of its portfolio. Walleye Trading Ltd reported 2,600 shares or 0% of all its holdings. Wexford Capital L P holds 1.17% or 1.33M shares in its portfolio. Blue Clay Cap Mngmt Limited Liability Company holds 2.49% or 426,121 shares in its portfolio. Moreover, Blackrock Institutional Trust Na has 0% invested in Famous Dave’s of America, Inc. (NASDAQ:DAVE) for 228,917 shares.
Insider Transactions: Since June 29, 2016, the stock had 2 insider buys, and 0 insider sales for $686,740 net activity. $3,000 worth of shares were bought by Bandera Partners LLC on Wednesday, June 29.
More news for Famous Dave’s of America, Inc. (NASDAQ:DAVE) were recently published by: Seekingalpha.com, which released: “Famous Dave’s: I Like Mike” on November 18, 2016. Startribune.com‘s article titled: “Famous Dave’s profit is cut to the bone amid revival efforts” and published on November 15, 2016 is yet another important article.
DAVE Company Profile
Famous Dave’s of America, Inc. (Famous Dave’s), incorporated on March 14, 1994, operates restaurants. The Company’s restaurants, which offer full table service, feature wood-smoked and off-the-grill entree favorites that fit into the barbeque category. The Company’s prototypical design includes the elements, including a designated bar, an exterior smokestack, a separate entrance for its To Go business and a patio (where available). The Firm has creates that can be adapted to fit various location sizes and desired service styles, such as full-service or counter-service. The Firm has the Company-owned and franchise-operated restaurants in the United States, the Commonwealth of Puerto Rico, and Canada, and it operates within the industry segment of foodservice. The Firm operates approximately 179 Famous Dave’s restaurants operating in over 33 states, the Commonwealth of Puerto Rico and Canada, including over 44 the Company-owned restaurants and approximately 135 franchise-operated restaurants. Approximately 38 of its Company-owned restaurants are full-service and over six are counter-service.
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