Short Interest in Tattooed Chef, Inc. (NASDAQ:TTCF) Expands By 35.7%


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Tattooed Chef, Inc. (NASDAQ:TTCF) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 8,280,000 shares, a growth of 35.7% from the March 31st total of 6,100,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 17.5% of the shares of the company are sold short.

Separately, Zacks Investment Research cut Tattooed Chef from a “hold” rating to a “sell” rating in a report on Tuesday, March 16th.

Shares of TTCF stock opened at $18.08 on Tuesday. The business’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $20.48. Tattooed Chef has a one year low of $10.33 and a one year high of $28.64. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Tattooed Chef (NASDAQ:TTCF) last announced its earnings results on Wednesday, March 10th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The company had revenue of $39.60 million during the quarter, compared to analyst estimates of $39.50 million. As a group, equities analysts anticipate that Tattooed Chef will post 0.16 EPS for the current year.

In other Tattooed Chef news, CEO Salvatore Galletti sold 800,000 shares of the firm’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $10.00, for a total transaction of $8,000,000.00. Following the completion of the sale, the chief executive officer now owns 31,266,210 shares of the company’s stock, valued at approximately $312,662,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel James Williamson bought 250,000 shares of the company’s stock in a transaction dated Thursday, April 15th. The shares were purchased at an average cost of $10.00 per share, with a total value of $2,500,000.00. Following the acquisition, the director now directly owns 257,471 shares of the company’s stock, valued at approximately $2,574,710. The disclosure for this purchase can be found here. Company insiders own 21.65% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Falcon Edge Capital LP bought a new stake in Tattooed Chef in the fourth quarter valued at approximately $68,248,000. Hudson Bay Capital Management LP bought a new stake in Tattooed Chef in the fourth quarter valued at approximately $2,861,000. Cambridge Investment Research Advisors Inc. bought a new stake in Tattooed Chef in the fourth quarter valued at approximately $2,708,000. Wells Fargo & Company MN bought a new stake in Tattooed Chef in the fourth quarter valued at approximately $330,000. Finally, Inspire Advisors LLC acquired a new position in Tattooed Chef in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 7.37% of the company’s stock.

About Tattooed Chef

Tattooed Chef, Inc, a plant-based food company, produces and sells a portfolio of frozen foods. It supplies plant-based products to retailers in the United States. The company offers ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, cauliflower crust pizza, and plant-based burgers.

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