ONE Group Hospitality (NASDAQ:STKS) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

The ONE Group Hospitality, Inc. (NASDAQ:STKS)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.92 and traded as high as $2.00. ONE Group Hospitality shares last traded at $1.90, with a volume of 8,059 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STKS. Weiss Ratings reiterated a “sell (e+)” rating on shares of ONE Group Hospitality in a research report on Friday, July 10th. Zacks Research raised shares of ONE Group Hospitality from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.50.

ONE Group Hospitality Stock Down 5.5%

The stock’s 50 day moving average is $1.92 and its two-hundred day moving average is $1.95. The company has a market capitalization of $59.96 million, a PE ratio of -0.47 and a beta of 1.33.

ONE Group Hospitality (NASDAQ:STKS) last issued its 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). The business had revenue of $212.82 million for the quarter, compared to the consensus estimate of $218.55 million. ONE Group Hospitality had a negative return on equity of 6.77% and a negative net margin of 11.15%. On average, sell-side analysts predict that The ONE Group Hospitality, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On ONE Group Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in ONE Group Hospitality by 18.7% during the fourth quarter. Bank of America Corp DE now owns 34,782 shares of the restaurant operator’s stock worth $101,000 after buying an additional 5,477 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of ONE Group Hospitality in the 2nd quarter valued at $132,000. Jane Street Group LLC raised its position in shares of ONE Group Hospitality by 423.5% in the 2nd quarter. Jane Street Group LLC now owns 101,174 shares of the restaurant operator’s stock worth $410,000 after acquiring an additional 81,848 shares in the last quarter. Vanguard Group Inc. raised its position in shares of ONE Group Hospitality by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,227,751 shares of the restaurant operator’s stock worth $3,634,000 after acquiring an additional 14,765 shares in the last quarter. Finally, Group One Trading LLC lifted its stake in shares of ONE Group Hospitality by 18,965.0% during the 3rd quarter. Group One Trading LLC now owns 19,065 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 18,965 shares during the last quarter. 29.14% of the stock is currently owned by institutional investors.

About ONE Group Hospitality

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.