Could Famous Dave's of America, Inc. (DAVE) Go Up? The Stock Formed Double Top Chart Pattern

February 15, 2018 - By Louis Casey

Investors sentiment increased to 0.67 in Q3 2017. 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.
Wells Fargo Mn holds 0% in Famous Dave's of America, Inc. (NASDAQ:DAVE) or 1 shares. Bandera Prtnrs Limited Liability Company has invested 4.13% of its portfolio in Famous Dave's of America, Inc. (NASDAQ:DAVE). Renaissance Technology Ltd Limited Liability Company holds 0% or 260,400 shares. Moreover, Cranbrook Wealth Ltd has 0% invested in Famous Dave's of America, Inc. (NASDAQ:DAVE) for 155 shares. Northern Tru has invested 0% in Famous Dave's of America, Inc. (NASDAQ:DAVE). Royal Bancorp Of Canada owns 6 shares or 0% of their US portfolio. Morgan Stanley invested in 216 shares. 176,014 are owned by Dimensional Fund Advsrs Limited Partnership. California Employees Retirement invested in 24,910 shares or 0% of the stock. Connecticut-based Wexford Lp has invested 0.47% in Famous Dave's of America, Inc. (NASDAQ:DAVE). Bridgeway Cap Mngmt owns 52,000 shares for 0% of their portfolio. Deutsche Natl Bank Ag has 0% invested in Famous Dave's of America, Inc. (NASDAQ:DAVE) for 5,600 shares. Us Financial Bank De invested 0% in Famous Dave's of America, Inc. (NASDAQ:DAVE). Blackrock Incorporated invested in 223,048 shares. Perkins Capital holds 0.76% or 175,100 shares.

The chart of Famous Dave's of America, Inc. (DAVE) shows a double top with $6.65 target or 6.00 % above today’s $6.28 share price. The 6 months chart pattern indicates low risk for the $46.29 million company. It was reported on Feb, 15 by Finviz.com. If the $6.65 price target is reached, the company will be worth $2.78 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.40% or $0.025 during the last trading session, reaching $6.275. About 11,464 shares traded. Famous Dave's of America, Inc. (NASDAQ:DAVE) has declined 23.38% since February 15, 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 earnings per share, up 70.00 % or $0.07 from last year’s $-0.1 per share. After $-0.01 actual earnings per share 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 stock has “Buy” rating by Craig Hallum on Wednesday, August 5. The rating was upgraded by Craig Hallum on Tuesday, November 14 to “Buy”. The stock has “Buy” rating by Stifel Nicolaus on Wednesday, September 9. The rating was downgraded by Sidoti on Wednesday, November 4 to “Neutral”.

More notable recent Famous Dave's of America, Inc. (NASDAQ:DAVE) news were published by: Seekingalpha.com which released: “Famous Dave’s: The Bottom Is In” on August 15, 2017, also Globenewswire.com with their article: “Famous Dave’s of America, Inc. Announces Private Placement” published on November 13, 2017, Seekingalpha.com published: “Famous Dave’s Excellent Q3 2017” on November 14, 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 Reuters.com‘s news article titled: “BRIEF-Famous Dave’s Of America Inc CFO Dexter Newman Resigns” with publication date: February 12, 2018.

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