Zacks Investment Research upgraded shares of Chanticleer (NASDAQ:BURG) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Chanticleer Holdings, Inc. is engaged in owning and operating Hooters branded restaurants in international markets. Hooters restaurants are casual beach-themed establishments with sports on television, jukebox music, and Hooters Girls. The Company has rights to develop and operate Hooters restaurants in South Africa, rights to develop in Hungary and parts of Brazil, and has a joint venture with a franchisee in Australia. Chanticleer Holdings, Inc. is based in Charlotte, North Carolina. “

Separately, ValuEngine lowered Chanticleer from a buy rating to a hold rating in a research report on Tuesday, October 2nd.

Shares of Chanticleer stock traded up $0.22 on Wednesday, hitting $2.31. 31,854 shares of the company’s stock traded hands, compared to its average volume of 15,444. Chanticleer has a one year low of $1.81 and a one year high of $5.14. The firm has a market cap of $7.86 million, a price-to-earnings ratio of -1.30 and a beta of 2.29.

Chanticleer (NASDAQ:BURG) last announced its earnings results on Monday, August 13th. The restaurant operator reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.07. Chanticleer had a negative return on equity of 35.65% and a negative net margin of 15.34%. The company had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.65 million. On average, analysts predict that Chanticleer will post -1.6 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Chanticleer stock. Perkins Capital Management Inc. purchased a new position in shares of Chanticleer Holdings (NASDAQ:BURG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 44,161 shares of the restaurant operator’s stock, valued at approximately $110,000. Perkins Capital Management Inc. owned 1.19% of Chanticleer as of its most recent filing with the SEC. Institutional investors own 3.53% of the company’s stock.

About Chanticleer

Chanticleer Holdings, Inc, together with its subsidiaries, owns, operates, and franchises fast casual dining concepts in the United States and internationally. The company owns and operates 8 locations under the American Burger Company name in North Carolina, South Carolina, and New York; 8 company-owned locations in the United States and 13 franchisee-operated locations in the United States and the Middle East under The Burger Joint name; and 12 company-owned locations under the Little Big Burger name in the Portland, Oregon and Charlotte, North Carolina, as well as in Wallingford, Seattle.

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