Ttcf Stock – Shares of Tattooed Chef ( NASDAQ:TTCF ) fell short of investor expectations. The stock price of this former high-flying SPAC has struggled to recover from its decline. Any quick rally appears to be losing steam as traders move to push TTCF stock back to the $16 levels.
The company recently reported results for the second quarter of 2021. The income of the Tattooed Chef was $50.7 million. While that represented annual growth of 45.9%, it was $3.35 billion below analysts’ expectations. TTCF shares fell 20% over the next few trading days to a low of $16.59, but recovered a few days later.
Ttcf Stock
To be fair, the decline in revenue wasn’t that bad as the company still had healthy growth in the quarter. Especially in TTCF’s high-brand food category, which grew 62.3% to $33.1 million from $20.4 million last year.
Tattooed Chef Stock Tumbles More Than 10% (nasdaq:ttcf)
The change in product range increased the gross margin from 10.8% to 15.7%. The company also noted that the increase in gross margin was driven by “improvement in production capacity and the ability to use economies of scale.”
Tattooed Chef reported an adjusted EBITDA loss of $5.9 million and a net loss of $53.2 million for the quarter. The company also has $140.2 million in cash to further its expansion efforts.
While investors may have been disappointed by the quarterly results, Tattooed Chef has revealed its aggressive plans for the full year of 2021. The company is targeting between $235 million and $242 million. This is an increase from 58% to 63% compared to 2020.
It also plans to increase gross profit margins to a range of 16% – 22%. Tattooed Chef currently has lower gross margins compared to its peers in the food industry due to lack of scale. However, as the company continues to grow (plant-based, of course), its production will begin to benefit from economies of scale.
We Are Avoiding Tattooed Chef For Now (nasdaq:ttcf)
The negative effect of this expansion is that the company has to maintain an EBITDA loss for now. The company expects to have negative EBITDA of $14 million to $17 million in 2021. In addition to infrastructure and production costs, The Tattooed Chef is committed to an aggressive marketing and customer acquisition program.
The company has the potential to achieve its goals of higher revenue growth and more. There is a large national trend towards a plant-based diet that will grow rapidly in the future. There is evidence that younger generations, Millennials and Gen-Zs are driving this change in food preferences.
, 35% of Gen-Z want to eliminate meat from their diet. This trend will only accelerate as Gen Z ages and their purchasing power increases. The global vegan food market is predicted to reach $31.4 billion by 2026.
The change in attitude may affect TTCF stock in addition to increasing the company’s revenue. TTCF stock could see increased cash flow as vegan investing takes off. This may be similar to the rapid growth seen in ESG investments.
Tattooed Chef: Growing Food Company, 27% Annualized Yield (nasdaq:ttcf)
The Advisors Series Trust has announced the creation of an exchange-traded fund for VegTech Environmental Impact and Plant-based Innovation. This ETF will invest in companies that promote small animal feed production. I can see TTCF shares being an important part of a fund like this. If vegan investing becomes a separate category within ESG investing, the improved cash flow will support TTCF shares.
For these reasons, I still like TTCF stock. My investing style is primarily buy and hold, so I’m not overly focused on quarterly results. I understand how some investors may be disappointed. However, I am willing to wait and see this trend. Penny Stocks () is the best online destination for all Micro-Cap stocks. In it, you will find a comprehensive list of penny stocks and find the best penny stocks to buy, top penny stock news, and microcap stocks articles. 2021 is expected to be a big year for value stocks.
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Ttcf Institutional Ownership And Shareholders
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As of this writing, Tattooed Chef stock is trading below $10. They are almost 100% higher than the penny stock limit. But if you look at the TTCF chart, it can give a bigger picture of why some are wondering “
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Since September last year, TTCF shares have been in free fall. The stock is down nearly 60% from that high of $25.35. The plant-based food company has fallen on hard times, missing expected profits and reduced guidance. The latest results for 2021 also revealed some interesting results. But even with a revenue jump of more than 40% compared to 2020, investors are not impressed. Revenue from Tattooed Chef brand products has increased by 50% compared to last year. Last year, the company also launched its first national media campaign to increase brand awareness while nearly doubling its product SKUs.
“We expect the newly acquired Belmont Confections facility to begin transitioning to production of Tattooed Chef brand bars in early Q2 2022, and we expect the two facilities acquired in the New Mexico Food Distributors transaction to be fully operational and producing the Tattooed Chef label and brand . products by the second quarter of 2022,” said Sam Galletti, president and CEO, in an update on March 16. “We have also taken steps to strengthen the integrated nature of our business by driving investments in automation, workforce, cold storage and internal R&D across company. We believe this development will support our expected revenue growth, provide efficiencies, and accelerate our capabilities. to reach scale and increase margins.”
Is this growth and vision timely or is it too late (for now)? With TTCF stock gains behind, traders and analysts are looking for an execution story. But for now, the outlook for TTCF stock is more mixed than some would like:
Even if TTCF’s share price drops by 60% or more, all recent analyst estimates put the expected upside at around 100% or more. Additionally, retailers can look to the Tattoed Chef to meet key events scheduled for 2022. These include:
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So, should you buy Tattooed Chef stock now? Although this is not a complete report on the TTCF, it does highlight some of the potential negative factors for the current decline. Given the analyst outlook and growth expectations for 2022, the Tattooed chef seems to have received at least as much attention. But how this will translate to the market remains to be seen.
Another thing to consider is how the company will fund this growth. According to the 2021 earnings report, capital spending increased to $63.8 million compared to $7 million in 2020. About $47 million went to capital purchases. The tattooed chef had more than $90 million in cash and cash equivalents at the end of 2021, so the question now is how will the money spent on acquisitions in 2021 translate into performance in 2022?
If TTCF is currently on your watch list, please leave a comment about your opinion of the company and whether or not you think further downgrades are on the way. Tattooed Chef, Inc Class A (US: TTCF ) has 206 owners and institutional shareholders that have filed Forms 13D/G or 13F with the Securities and Exchange Commission (SEC). These entities have a total of 15,535,257 shares. Major shareholders include BlackRock Inc., Vanguard
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