ONE Group Hospitality (NASDAQ:STKS) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

The ONE Group Hospitality, Inc. (NASDAQ:STKS) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.93 and traded as low as $1.73. ONE Group Hospitality shares last traded at $1.75, with a volume of 35,931 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of ONE Group Hospitality in a research report on Friday, July 10th. Zacks Research upgraded shares of ONE Group Hospitality from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.00.

ONE Group Hospitality Stock Performance

The company has a market capitalization of $54.28 million, a price-to-earnings ratio of -0.43 and a beta of 1.36. The firm has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.92.

ONE Group Hospitality (NASDAQ:STKS) last issued its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.32). ONE Group Hospitality had a negative return on equity of 6.77% and a negative net margin of 11.15%.The business had revenue of $212.82 million for the quarter, compared to analyst estimates of $218.55 million. As a group, equities analysts forecast that The ONE Group Hospitality, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On ONE Group Hospitality

A number of hedge funds have recently added to or reduced their stakes in STKS. CastleKnight Management LP grew its stake in shares of ONE Group Hospitality by 4.7% in the fourth quarter. CastleKnight Management LP now owns 1,286,991 shares of the restaurant operator’s stock worth $2,252,000 after acquiring an additional 58,015 shares in the last quarter. Piedmont Capital Management LLC NC acquired a new stake in shares of ONE Group Hospitality in the fourth quarter valued at $104,000. McGowan Group Asset Management Inc. raised its stake in shares of ONE Group Hospitality by 12.7% in the fourth quarter. McGowan Group Asset Management Inc. now owns 945,000 shares of the restaurant operator’s stock valued at $1,654,000 after acquiring an additional 106,665 shares in the last quarter. Bank of America Corp DE boosted its holdings in ONE Group Hospitality by 20.8% in the third quarter. Bank of America Corp DE now owns 55,634 shares of the restaurant operator’s stock valued at $165,000 after purchasing an additional 9,594 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in ONE Group Hospitality in the third quarter valued at $97,000. 29.14% of the stock is currently owned by institutional investors and hedge funds.

ONE Group Hospitality Company Profile

ONE Group Hospitality Inc is a full-service hospitality company primarily engaged in the development, ownership and operation of upscale restaurant and lounge concepts. The company’s flagship brand, STK, combines a modern steakhouse menu with a high-energy lounge atmosphere, offering signature cuts of beef, fresh seafood, sushi selections, craft cocktails and an extensive wine program. ONE Group’s concept emphasizes a seamless blend of fine dining and nightlife, catering to guests seeking both culinary excellence and an immersive social experience.

Headquartered in El Segundo, California, ONE Group deploys a mixed model of company-owned and franchised locations across multiple markets.