Krispy Kreme (NASDAQ:DNUT) Stock Price Up 13.9%

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) were up 13.9% during mid-day trading on Thursday . The company traded as high as $10.71 and last traded at $10.48. Approximately 245,063 shares changed hands during trading, a decline of 89% from the average daily volume of 2,318,351 shares. The stock had previously closed at $9.20.

Analysts Set New Price Targets

DNUT has been the subject of a number of research analyst reports. Truist Financial raised Krispy Kreme from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $15.00 in a research report on Monday, June 10th. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Bank of America dropped their price objective on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Krispy Kreme in a research report on Monday, June 3rd. They set an “overweight” rating and a $14.00 target price for the company. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Krispy Kreme Trading Up 13.6 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. The firm’s fifty day moving average is $10.71 and its two-hundred day moving average is $12.28. The firm has a market capitalization of $1.76 billion, a PE ratio of -38.37, a PEG ratio of 1.96 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $442.70 million for the quarter, compared to the consensus estimate of $433.87 million. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. On average, equities analysts predict that Krispy Kreme, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new stake in Krispy Kreme in the second quarter worth $185,000. Signaturefd LLC increased its holdings in Krispy Kreme by 21.0% in the 2nd quarter. Signaturefd LLC now owns 50,109 shares of the company’s stock worth $539,000 after acquiring an additional 8,710 shares during the last quarter. Benin Management CORP raised its stake in Krispy Kreme by 74.6% in the 2nd quarter. Benin Management CORP now owns 33,480 shares of the company’s stock valued at $360,000 after acquiring an additional 14,300 shares during the period. OFI Invest Asset Management purchased a new stake in Krispy Kreme during the second quarter valued at about $451,000. Finally, Blue Trust Inc. bought a new position in Krispy Kreme during the second quarter worth about $68,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.