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

Shares of The ONE Group Hospitality, Inc. (NASDAQ:STKS) 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 traded.

Wall Street Analysts Forecast Growth

STKS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ONE Group Hospitality in a research note on Friday, July 10th. Zacks Research upgraded shares of ONE Group Hospitality from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ONE Group Hospitality presently has a consensus rating of “Hold” and a consensus target price of $4.50.

ONE Group Hospitality Price Performance

The firm has a market cap of $59.96 million, a P/E ratio of -0.47 and a beta of 1.33. The company’s 50-day simple moving average is $1.92 and its 200 day simple moving average is $1.95.

ONE Group Hospitality (NASDAQ:STKS) last posted its earnings results on Wednesday, May 6th. The restaurant operator reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.32). The business had revenue of $212.82 million during 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%. Analysts anticipate that The ONE Group Hospitality, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On ONE Group Hospitality

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in shares of ONE Group Hospitality by 18.7% during the 4th quarter. Bank of America Corp DE now owns 34,782 shares of the restaurant operator’s stock worth $101,000 after purchasing an additional 5,477 shares during the period. Vanguard Group Inc. boosted its position in shares of ONE Group Hospitality by 1.2% during the third quarter. Vanguard Group Inc. now owns 1,227,751 shares of the restaurant operator’s stock valued at $3,634,000 after buying an additional 14,765 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of ONE Group Hospitality by 35.2% during the third quarter. Dimensional Fund Advisors LP now owns 70,839 shares of the restaurant operator’s stock valued at $210,000 after buying an additional 18,435 shares during the period. Group One Trading LLC grew its stake in shares of ONE Group Hospitality by 18,965.0% during the third quarter. Group One Trading LLC now owns 19,065 shares of the restaurant operator’s stock valued at $56,000 after buying an additional 18,965 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of ONE Group Hospitality in the second quarter worth approximately $132,000. Hedge funds and other institutional investors own 29.14% of the company’s stock.

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.