NASDAQ:RRGB is a extremely shorted stock, if the market had been better today a major breakout would have possibly played out.
AVERAGE ANALYSTS PRICE TARGET $32
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/E RATIO
SHORT INTEREST 30%
COMPANY PROFILE
Red Robin Gourmet Burgers, Inc. develops, operates, and franchises full-service restaurants North America. It...
======PRICE TARGET $40======
BREAKOUT RESISTANCE $35.
UPSIDE POTENTIAL 15%.
We believe a break to the upside is imminent and tomorrows earnings will be the catalysts to do it.
Stock is extremely volatile.
COMPANY PROFILE
Red Robin Gourmet Burgers, Inc. develops, operates, and franchises full-service restaurants North America. It serves a variety of salads,...
Sentiment in NASDAQ:RRGB is not great heading into earnings, this analysis is purely highlighting the possibility of a reversal trade in a extremely beaten down stock. There is the possibility that it is so bad it's good, but very risky, considering that revenue and earnings are expected to be a miss as a result of high labour costs, new advertising campaigns...
Red Robin Gourmet Burgers (RRBG) has carved out a bottom inside an old demand zone, and is now heading into a mid-term supply zone. If it clears 33.66'ish, it has potential to clear the mid 30's. If it does, expect a great long opportunity. If it does not, it may become a great short.
