ONE Group Hospitality (NASDAQ:STKS) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

The ONE Group Hospitality, Inc. (NASDAQ:STKS)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.84 and traded as high as $1.92. ONE Group Hospitality shares last traded at $1.85, with a volume of 15,573 shares traded.

Wall Street Analysts Forecast Growth

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

ONE Group Hospitality Price Performance

The stock has a market capitalization of $58.39 million, a P/E ratio of -0.46 and a beta of 1.34. The company has a fifty day moving average of $1.84 and a two-hundred day moving average of $1.95.

ONE Group Hospitality (NASDAQ:STKS) last posted its earnings results on Wednesday, May 6th. The restaurant operator reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.32). The company had revenue of $212.82 million for the quarter, compared to the consensus estimate of $218.55 million. ONE Group Hospitality had a negative net margin of 11.15% and a negative return on equity of 6.77%. As a group, equities research analysts predict that The ONE Group Hospitality, Inc. will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ONE Group Hospitality

Several hedge funds and other institutional investors have recently modified their holdings of the company. CastleKnight Management LP boosted its holdings in shares of ONE Group Hospitality by 4.7% during the fourth quarter. CastleKnight Management LP now owns 1,286,991 shares of the restaurant operator’s stock valued at $2,252,000 after acquiring an additional 58,015 shares during the period. Piedmont Capital Management LLC NC bought a new position in ONE Group Hospitality in the 4th quarter worth approximately $104,000. McGowan Group Asset Management Inc. increased its position in ONE Group Hospitality by 12.7% in the 4th 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 during the period. Bank of America Corp DE increased its position in ONE Group Hospitality by 20.8% in the 3rd quarter. Bank of America Corp DE now owns 55,634 shares of the restaurant operator’s stock valued at $165,000 after acquiring an additional 9,594 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in ONE Group Hospitality in the 3rd quarter valued at approximately $97,000. Institutional investors and hedge funds own 29.14% of the company’s stock.

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.