Whole Earth Brands (NASDAQ:FREE – Get Rating) posted its quarterly earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.26), MarketWatch Earnings reports. Whole Earth Brands had a negative net margin of 1.06% and a positive return on equity of 4.92%. During the same quarter in the previous year, the business earned ($0.13) EPS. Whole Earth Brands updated its FY 2022 guidance to EPS.
FREE traded down $0.09 on Tuesday, hitting $7.05. The company had a trading volume of 13,329 shares, compared to its average volume of 244,128. Whole Earth Brands has a 52-week low of $7.07 and a 52-week high of $14.95. The stock has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $10.87. The firm has a market capitalization of $271.26 million, a P/E ratio of -39.69 and a beta of 0.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.43 and a quick ratio of 0.96.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new position in shares of Whole Earth Brands during the second quarter valued at approximately $81,000. Citigroup Inc. increased its position in shares of Whole Earth Brands by 100.7% during the fourth quarter. Citigroup Inc. now owns 9,518 shares of the company’s stock valued at $102,000 after acquiring an additional 4,776 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Whole Earth Brands during the third quarter valued at approximately $120,000. Squarepoint Ops LLC bought a new stake in shares of Whole Earth Brands during the fourth quarter valued at approximately $185,000. Finally, Bank of America Corp DE increased its position in shares of Whole Earth Brands by 47.7% during the second quarter. Bank of America Corp DE now owns 24,470 shares of the company’s stock valued at $355,000 after acquiring an additional 7,907 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.
FREE has been the subject of a number of analyst reports. Cowen initiated coverage on shares of Whole Earth Brands in a report on Wednesday, December 15th. They set an “outperform” rating and a $16.00 target price for the company. Zacks Investment Research upgraded shares of Whole Earth Brands from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.60.
Whole Earth Brands Company Profile
Act II Global Acquisition Corp. is a blank check company. It intends to focus on the business of following sector: consumer packaged goods, consumables and hospitality including restaurants. The company was founded on August 16, 2018 and is headquartered in New York, NY.