Krispy Kreme (NASDAQ:DNUT) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.12 and traded as high as $3.21. Krispy Kreme shares last traded at $3.20, with a volume of 3,694,918 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Krispy Kreme from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. Wall Street Zen downgraded shares of Krispy Kreme from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Evercore set a $4.00 target price on shares of Krispy Kreme in a report on Friday, August 7th. Finally, Zacks Research raised shares of Krispy Kreme from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $4.33.

Krispy Kreme Stock Up 4.9%

The stock has a market capitalization of $551.68 million, a price-to-earnings ratio of -5.71 and a beta of 1.25. The business has a 50-day moving average of $3.12 and a 200-day moving average of $3.35. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.29 and a current ratio of 0.36.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $303.35 million. Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. Krispy Kreme’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, sell-side analysts expect that Krispy Kreme, Inc. will post -0.06 EPS for the current year.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently made changes to their positions in DNUT. Hsbc Holdings PLC acquired a new position in shares of Krispy Kreme in the 2nd quarter worth approximately $24,992,000. BlackRock Inc. acquired a new stake in Krispy Kreme in the 2nd quarter valued at approximately $23,353,000. AlpInvest Partners B.V. acquired a new stake in Krispy Kreme in the 2nd quarter valued at approximately $2,231,000. Squarepoint Ops LLC increased its holdings in Krispy Kreme by 138.5% in the 2nd quarter. Squarepoint Ops LLC now owns 566,309 shares of the company’s stock valued at $1,999,000 after purchasing an additional 328,885 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Krispy Kreme in the first quarter valued at approximately $1,883,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Company Profile

Krispy Kreme, Inc is a global doughnut and coffee company best known for its Original Glazed doughnuts. The company sells doughnuts, packaged sweets, coffee and other beverages through Krispy Kreme shops, in-store retail displays and digital ordering channels.

Krispy Kreme operates a hub-and-spoke distribution model that combines doughnut-making hubs and shops with delivery to grocery stores, convenience stores and other retail locations. Its products are also distributed through partnerships and branded locations, allowing the company to expand its reach beyond traditional Krispy Kreme shops.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown into an international brand serving customers in the United States and various markets across North America, Europe, Asia and Oceania.