After Forming Double Top Chart Pattern, Is Famous Dave's of America, Inc. (DAVE)’s Near-Term Analysis Positive?

February 20, 2018 - By Kurt Siggers

Investors sentiment increased to 0.67 in 2017 Q3. Its up 0.31, from 0.36 in 2017Q2. It improved, as 3 investors sold Famous Dave's of America, Inc. shares while 6 reduced holdings. 2 funds opened positions while 4 raised stakes. 4.30 million shares or 0.62% less from 4.33 million shares in 2017Q2 were reported.
Us Bank & Trust De, Minnesota-based fund reported 200 shares. Perkins Cap Mgmt Incorporated holds 175,100 shares. Vanguard Group Inc stated it has 0% of its portfolio in Famous Dave's of America, Inc. (NASDAQ:DAVE). Blackrock Inc holds 0% of its portfolio in Famous Dave's of America, Inc. (NASDAQ:DAVE) for 223,048 shares. Raging Capital Ltd Co reported 617,715 shares. Royal Commercial Bank Of Canada stated it has 0% of its portfolio in Famous Dave's of America, Inc. (NASDAQ:DAVE). 23,249 were accumulated by Northern Trust. Bandera Prtn Limited Liability reported 1.14 million shares or 4.13% of all its holdings. Morgan Stanley reported 216 shares. Amg Natl Tru Financial Bank holds 0.01% in Famous Dave's of America, Inc. (NASDAQ:DAVE) or 20,000 shares. Deutsche Bank & Trust Ag owns 5,600 shares. 24,910 are held by California Pub Employees Retirement Systems. 30,474 were reported by Geode Ltd. Wells Fargo & Mn holds 0% or 1 shares in its portfolio. Bancshares Of America De owns 0% invested in Famous Dave's of America, Inc. (NASDAQ:DAVE) for 779 shares.

The chart of Famous Dave's of America, Inc. (DAVE) shows a double top with $6.91 target or 8.00 % above today’s $6.40 share price. The 6 months chart pattern indicates low risk for the $47.21M company. It was reported on Feb, 20 by Finviz.com. If the $6.91 price target is reached, the company will be worth $3.78M more. Double tops are rare but powerful chart patterns.

The stock increased 1.59% or $0.1 during the last trading session, reaching $6.4. About 8,187 shares traded. Famous Dave's of America, Inc. (NASDAQ:DAVE) has declined 23.38% since February 20, 2017 and is downtrending. It has underperformed by 40.08% the S&P500.

Analysts await Famous Dave's of America, Inc. (NASDAQ:DAVE) to report earnings on March, 5. They expect $-0.03 EPS, up 70.00 % or $0.07 from last year’s $-0.1 per share. After $-0.01 actual EPS reported by Famous Dave's of America, Inc. for the previous quarter, Wall Street now forecasts 200.00 % negative EPS growth.

Famous Dave's of America, Inc. (NASDAQ:DAVE) Ratings Coverage

Among 3 analysts covering Famous Dave’s (NASDAQ:DAVE), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Famous Dave’s had 4 analyst reports since August 5, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Sidoti given on Wednesday, November 4. Stifel Nicolaus maintained Famous Dave's of America, Inc. (NASDAQ:DAVE) on Wednesday, September 9 with “Buy” rating. On Tuesday, November 14 the stock rating was upgraded by Craig Hallum to “Buy”. The firm has “Buy” rating by Craig Hallum given on Wednesday, August 5.

More notable recent Famous Dave's of America, Inc. (NASDAQ:DAVE) news were published by: Reuters.com which released: “BRIEF-Famous Dave’s Of America Inc CFO Dexter Newman Resigns” on February 12, 2018, also Globenewswire.com with their article: “Famous Dave’s Welcomes World Champion Pitmaster, Travis Clark, to Lead …” published on January 16, 2018, Seekingalpha.com published: “Questions I Have About Famous Dave’s” on April 20, 2017. More interesting news about Famous Dave's of America, Inc. (NASDAQ:DAVE) were released by: Globenewswire.com and their article: “Famous Dave’s of America, Inc. Appoints Jeffery Crivello as Chief Executive …” published on November 13, 2017 as well as Globenewswire.com‘s news article titled: “Famous Dave’s of America, Inc. Announces Private Placement” with publication date: November 13, 2017.

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