The stock of Famous Dave’s of America, Inc. (NASDAQ:DAVE) hit a new 52-week low and has $4.28 target or 10.00% below today’s $4.75 share price. The 8 months bearish chart indicates high risk for the $32.72 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $4.28 price target is reached, the company will be worth $3.27 million 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 10,646 shares traded hands. Famous Dave’s of America, Inc. (NASDAQ:DAVE) has declined 17.64% since April 1, 2016 and is downtrending. It has underperformed by 18.85% 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. On Wednesday, August 5 the stock rating was downgraded by Craig Hallum to “Buy”. The rating was downgraded by Sidoti to “Neutral” on Wednesday, November 4. Stifel Nicolaus maintained Famous Dave’s of America, Inc. (NASDAQ:DAVE) rating on Wednesday, September 9. Stifel Nicolaus has “Buy” rating and $45 price target.
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 decreased to 0.83 in Q2 2016. Its down 0.17, from 1 in 2016Q1. The ratio is negative, 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.
Blackrock Inv Management Ltd Llc reported 736 shares or 0% of all its holdings. William Harris Invsts Inc, a Illinois-based fund reported 10,451 shares. Renaissance Technology Limited Liability Corporation, a New York-based fund reported 268,200 shares. Greenwich Wealth Mngmt Lc, a Connecticut-based fund reported 11,400 shares. Vanguard Gru accumulated 0% or 249,520 shares. First Manhattan Com owns 56 shares or 0% of their US portfolio. Pleasant Lake Llc accumulated 548,555 shares or 3.73% of the stock. Moreover, Landscape Mgmt Ltd has 0.01% invested in Famous Dave’s of America, Inc. (NASDAQ:DAVE) for 15,850 shares. Teton Advsrs holds 0.04% or 92,203 shares in its portfolio. Creative Planning has 200 shares for 0% of their US portfolio. Blue Clay Limited Liability last reported 426,121 shares in the company. Walleye Trading Limited Liability Corp holds 0% of its portfolio in Famous Dave’s of America, Inc. (NASDAQ:DAVE) for 2,600 shares. Northern holds 0% or 23,855 shares in its portfolio. The New York-based Tower Rech Cap Ltd Llc (Trc) has invested 0% in Famous Dave’s of America, Inc. (NASDAQ:DAVE). Nationwide Fund, a Pennsylvania-based fund reported 5,400 shares.
Insider Transactions: Since June 29, 2016, the stock had 2 insider buys, and 0 insider sales for $686,740 net activity. Bandera Partners LLC bought 136,754 shares worth $683,740.
More notable recent Famous Dave’s of America, Inc. (NASDAQ:DAVE) news were published by: Globenewswire.com which released: “Famous Dave’s Third Quarter 2016 Earnings Release and Conference Call” on November 01, 2016, also Globenewswire.com with their article: “Famous Dave’s of America Appoints Restaurant Industry Veteran Michael W …” published on October 12, 2016, Globenewswire.com published: “Founder of Famous Dave’s Bar-B-Que to Compete Wednesday, August 3, in New TV …” on August 02, 2016. More interesting news about Famous Dave’s of America, Inc. (NASDAQ:DAVE) were released by: Bizjournals.com and their article: “Famous Dave’s roasts ‘poor decisions’ by former leaders, names new COO” published on August 05, 2015 as well as Seekingalpha.com‘s news article titled: “Famous Dave’s of America’s (DAVE) CEO Adam Wright on Q2 2016 Results …” with publication date: August 15, 2016.
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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