Tattooed Chef Inc. (TTCF) looking to reclaim success with recent performance

Tattooed Chef Inc. (NASDAQ: TTCF) stock jumped 2.41% on Friday to $6.79 against a previous-day closing price of $6.63. With 1.01 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.49 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $6.95 whereas the lowest price it dropped to was $6.65. The 52-week range on TTCF shows that it touched its highest point at $25.35 and its lowest point at $5.84 during that stretch. It currently has a 1-year price target of $12.67. Beta for the stock currently stands at 0.56.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TTCF was up-trending over the past week, with a rise of 6.59%, but this was up by 2.41% over a month. Three-month performance dropped to -21.23% while six-month performance fell -44.62%. The stock lost -66.37% in the past year, while it has lost -56.31% so far this year. A look at the trailing 12-month EPS for TTCF yields -1.18 with Next year EPS estimates of -0.17. For the next quarter, that number is -0.14. This implies an EPS growth rate of -214.10% for this year and 69.60% for next year.

Float and Shares Shorts:

At present, 82.24 million TTCF shares are outstanding with a float of 45.08 million shares on hand for trading. On Jul 14, 2022, short shares totaled 14.46 million, which was 17.53% higher than short shares on Jun 14, 2022. In addition to Mr. Salvatore Galletti as the firm’s Founder, Pres, CEO & Chairman, Ms. Stephanie Dieckmann serves as its CFO & Sec.

Institutional Ownership:

Through their ownership of 17.31% of TTCF’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.78% of TTCF, in contrast to 7.48% held by mutual funds. Shares owned by individuals account for 40.34%. As the largest shareholder in TTCF with 3.31% of the stake, BlackRock Fund Advisors holds 2,727,094 shares worth 2,727,094. A second-largest stockholder of TTCF, The Vanguard Group, Inc., holds 2,416,208 shares, controlling over 2.93% of the firm’s shares. Susquehanna Financial Group LLLP is the third largest shareholder in TTCF, holding 1,122,344 shares or 1.36% stake. With a 1.47% stake in TTCF, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,213,645 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.28% of TTCF stock, is the second-largest Mutual Fund holder. It holds 1,058,078 shares valued at 6.67 million. Rize UCITS ICAV – Sustanaible Fut holds 0.87% of the stake in TTCF, owning 716,245 shares worth 4.51 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTCF since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TTCF analysts setting a high price target of $13.00 and a low target of $12.00, the average target price over the next 12 months is $12.50. Based on these targets, TTCF could surge 91.46% to reach the target high and rise by 76.73% to reach the target low. Reaching the average price target will result in a growth of 84.09% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TTCF will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$0.57 being high and -$0.80 being low. For TTCF, this leads to a yearly average estimate of -$0.69. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Tattooed Chef Inc. surprised analysts by -$0.08 when it reported -$0.22 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was -$0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.16 and the low estimate is -$0.22. The average estimate for the next quarter is thus -$0.19.

Summary of Insider Activity:

Insiders traded TTCF stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 26,908 while 0 shares were sold.

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