Krispy Kreme (NASDAQ:DNUT) Shares Up 6% – Here’s Why

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) shot up 6% on Monday . The company traded as high as $3.78 and last traded at $3.8260. 726,366 shares changed hands during trading, a decline of 68% from the average session volume of 2,282,628 shares. The stock had previously closed at $3.61.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DNUT. Zacks Research raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research note on Friday, March 27th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective on shares of Krispy Kreme in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.85.

Krispy Kreme Trading Up 1.4%

The stock has a market capitalization of $694.83 million, a PE ratio of -1.33 and a beta of 1.27. The firm has a 50 day moving average price of $3.37 and a 200 day moving average price of $3.69. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 1.40.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $392.37 million during the quarter, compared to the consensus estimate of $386.72 million. Krispy Kreme had a negative return on equity of 3.66% and a negative net margin of 33.87%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. Equities analysts expect that Krispy Kreme, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of Krispy Kreme by 53.0% in the third quarter. SG Americas Securities LLC now owns 1,199,552 shares of the company’s stock valued at $4,642,000 after acquiring an additional 415,416 shares in the last quarter. Divisadero Street Capital Management LP grew its holdings in shares of Krispy Kreme by 117.9% in the third quarter. Divisadero Street Capital Management LP now owns 1,089,341 shares of the company’s stock valued at $4,216,000 after acquiring an additional 589,341 shares in the last quarter. R Squared Ltd grew its holdings in shares of Krispy Kreme by 61.7% in the fourth quarter. R Squared Ltd now owns 22,983 shares of the company’s stock valued at $92,000 after acquiring an additional 8,767 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Krispy Kreme in the fourth quarter valued at approximately $40,000. Finally, Keel Point LLC bought a new position in shares of Krispy Kreme in the third quarter valued at approximately $102,000. 81.72% of the stock is owned by institutional investors.

About Krispy Kreme

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.