Waitr (NASDAQ:WTRH) Stock Price Down 13.5%

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Waitr Holdings Inc (NASDAQ:WTRH)’s stock price dropped 13.5% during mid-day trading on Thursday . The company traded as low as $0.42 and last traded at $0.45, 1,645,764 shares changed hands during trading. An increase of 21% from the average session volume of 1,363,316 shares. The stock had previously closed at $0.52.

A number of research analysts have commented on the company. Royal Bank of Canada lowered Waitr from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 17th. Craig Hallum lowered Waitr from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Piper Jaffray Companies cut Waitr from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $4.00 in a research note on Friday, August 9th. Zacks Investment Research downgraded Waitr from a “hold” rating to a “sell” rating in a report on Saturday, November 16th. Finally, Benchmark set a $5.00 price target on Waitr and gave the stock a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $6.88.

The company has a market capitalization of $37.46 million and a P/E ratio of -0.21. The stock’s 50 day moving average is $0.43 and its 200-day moving average is $3.09. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.72 and a quick ratio of 1.72.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC bought a new stake in Waitr during the 3rd quarter valued at approximately $112,000. Serengeti Asset Management LP boosted its position in shares of Waitr by 15.0% during the third quarter. Serengeti Asset Management LP now owns 460,000 shares of the company’s stock valued at $591,000 after purchasing an additional 60,000 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of Waitr by 428.6% during the third quarter. Hancock Whitney Corp now owns 84,114 shares of the company’s stock valued at $108,000 after purchasing an additional 68,200 shares in the last quarter. Park West Asset Management LLC grew its stake in Waitr by 67.3% in the second quarter. Park West Asset Management LLC now owns 4,518,172 shares of the company’s stock worth $28,419,000 after purchasing an additional 1,818,172 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in Waitr by 557.1% in the second quarter. Hodges Capital Management Inc. now owns 2,274,730 shares of the company’s stock worth $14,308,000 after purchasing an additional 1,928,530 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Waitr (NASDAQ:WTRH)

Waitr Holdings Inc provides online food ordering and delivery services in the Southeastern United States. Its Waitr Platform and Bite Squad Platform facilitates ordering of food and beverages by diners from restaurant partners for pick-up and delivery through a network of drivers. As of December 31, 2018, the company had approximately 8,500 restaurant partners in 250 cities.

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