First Watch Stock Sinks 24% On Q1 Loss Despite Revenue Growth

(RTTNews) - First Watch Restaurant Group, Inc. (FWRG) shares fell 23.97 percent to $14.15 during Tuesday's trading after the company reported a first-quarter net loss of $0.8 million, or $0.01 per share, compared to net income of $7.2 million, or $0.12 per share, a year earlier. The stock opened at $15.10 and has traded between $12.90 and $15.46 today. It previously closed at $18.61. First Watch shares have moved between $12.90 and $24.39 over the past 52 weeks, with volume soaring to 1.89 million versus an average of 786,000.

This decline came despite a 16.4 percent increase in revenue to $282.2 million from $242.4 million in the prior-year quarter.