First Watch Restaurant Group (NASDAQ:FWRG) Stock Falls 6.1% – Should You Sell?

Posted by Brian Himes on Oct 23rd, 2026

First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Free Report)’s stock price was down 6.1% on Wednesday. The company traded as low as $11.40 and last traded at $11.2370. 67,212 shares were traded during trading, a decline of 95% from the average session volume of 1,434,656 shares. The stock had previously closed at $11.97.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim decreased their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Weiss Ratings cut shares of First Watch Restaurant Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Freedom Capital upgraded shares of First Watch Restaurant Group to a “strong-buy” rating in a research note on Wednesday, July 1st. DA Davidson decreased their target price on shares of First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Finally, Wall Street Zen raised shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.90.

Check Out Our Latest Research Report on FWRG

First Watch Restaurant Group Stock Performance

The company has a 50 day moving average price of $11.46 and a 200-day moving average price of $11.82. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.44. The company has a market cap of $713.37 million, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 18.55 and a beta of 1.05.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $354.67 million for the quarter, compared to the consensus estimate of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%. First Watch Restaurant Group’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, equities analysts expect that First Watch Restaurant Group, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wavvest Wealth LLC bought a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at approximately $412,000. State of Alaska Department of Revenue acquired a new position in First Watch Restaurant Group during the 3rd quarter worth approximately $32,000. Engineers Gate Manager LP lifted its stake in First Watch Restaurant Group by 16.1% in the 2nd quarter. Engineers Gate Manager LP now owns 29,200 shares of the company’s stock valued at $376,000 after purchasing an additional 4,050 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in First Watch Restaurant Group in the 2nd quarter valued at approximately $70,000. Finally, Allworth Financial LP lifted its stake in First Watch Restaurant Group by 325.4% in the 2nd quarter. Allworth Financial LP now owns 2,225 shares of the company’s stock valued at $29,000 after purchasing an additional 1,702 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

(Get Free Report)

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.