AptitudeFinancialAdvisory

TTCF - December 27, 2020

Long
NASDAQ:TTCF   None
Tattooed Chef is a plant based food company currently on shelves in stores such as Walmart, Costco and Wholefoods through private labelling proving their manufacturing and quality control capabilities. This store based presence is growing but the company has a healthy balance sheet with an 11.5:1 asset to liability ratio allowing them to focus on expansion and sell directly to consumers to compete with companies like Beyond Meat. They plan to push the direct to consumer sales to be about 75% of their sales within the next 2 years. This company has a better EV/Revenue multiple than Beyond Meat as Beyond Meat has a market cap almost 7x that of Tattooed Chef with only about 3x revenue. They are also selling at only 5.4 times the projected 2021 revenue compared to Beyond Meat selling at 14 times the projected 2021 revenue. They have with a projected 48% growth in revenue over the next year. This stock has the potential to run if it breaks out of the $27 resistance level.

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