ONE Group Hospitality (NASDAQ:STKS) Stock Price Passes Above 50-Day Moving Average – What’s Next?

The ONE Group Hospitality, Inc. (NASDAQ:STKS)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.86 and traded as high as $1.87. ONE Group Hospitality shares last traded at $1.85, with a volume of 12,208 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of ONE Group Hospitality from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.50.

ONE Group Hospitality Stock Up 2.8%

The company has a market cap of $58.39 million, a P/E ratio of -0.46 and a beta of 1.34. The business has a fifty day simple moving average of $1.86 and a two-hundred day simple moving average of $1.94.

ONE Group Hospitality (NASDAQ:STKS) last released its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.32). ONE Group Hospitality had a negative net margin of 11.15% and a negative return on equity of 6.77%. The firm had revenue of $212.82 million for the quarter, compared to the consensus estimate of $218.55 million. On average, equities 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

A number of institutional investors and hedge funds have recently made changes to their positions in STKS. Group One Trading LLC increased its holdings in 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. Squarepoint Ops LLC purchased a new position in shares of ONE Group Hospitality during the 3rd quarter worth $97,000. 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 acquiring an additional 5,477 shares during the last quarter. Piedmont Capital Management LLC NC purchased a new position in shares of ONE Group Hospitality during the 4th quarter worth $104,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of ONE Group Hospitality during the 2nd quarter valued at $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.