Krispy Kreme (NASDAQ:DNUT) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price 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 traded.

Analysts Set New Price Targets

DNUT has been the subject of a number of research reports. Wall Street Zen lowered 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 price target on Krispy Kreme in a research note on Friday, August 7th. Weiss Ratings lowered Krispy Kreme from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Finally, Zacks Research upgraded Krispy Kreme from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $4.33.

Krispy Kreme Stock Performance

The business’s fifty day moving average is $3.12 and its 200-day moving average is $3.34. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 1.28. The company has a market cap of $565.47 million, a PE ratio of -5.86 and a beta of 1.25.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. The business had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $303.35 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts predict that Krispy Kreme, Inc. will post -0.06 EPS for the current fiscal year.

Institutional Trading of Krispy Kreme

Several hedge funds have recently bought and sold shares of the stock. Carlyle Group Inc. purchased a new stake in shares of Krispy Kreme in the second quarter worth $1,203,000. AlpInvest Partners B.V. purchased a new position in shares of Krispy Kreme during the 2nd quarter valued at $2,231,000. BlackRock Inc. bought a new position in Krispy Kreme in the 2nd quarter worth $23,353,000. Lazard Asset Management LLC bought a new position in Krispy Kreme in the 1st quarter worth $1,883,000. Finally, Hsbc Holdings PLC purchased a new stake in Krispy Kreme in the 2nd quarter worth $24,992,000. Institutional investors own 81.72% of the company’s stock.

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.