Nantahala Capital Management LLC Takes $4.26 Million Position in The ONE Group Hospitality, Inc. $STKS

Key Points

• Nantahala Capital Management acquired 2.12 million shares of ONE Group Hospitality, valued at approximately $4.26 million, giving it a 6.69% stake. Institutional investors collectively own 29.14% of the company.
• STKS shares opened at $1.67, near the company’s one-year low of $1.62, with a market capitalization of about $52.9 million and a negative price-to-earnings ratio.
• Analyst sentiment remains weak: the stock has a consensus “Reduce” rating and a $4.00 price target, with one Buy, one Hold, and two Sell ratings.

Nantahala Capital Management LLC bought a new stake in The ONE Group Hospitality, Inc. (NASDAQ:STKS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,121,084 shares of the restaurant operator's stock, valued at approximately $4,263,379. Nantahala Capital Management LLC owned about 6.69% of ONE Group Hospitality as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in ONE Group Hospitality during the 2nd quarter worth about $905,000. Jane Street Group LLC grew its holdings 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 valued at $410,000 after acquiring an additional 81,848 shares in the last quarter. Piedmont Capital Management LLC NC bought a new position in shares of ONE Group Hospitality in the 4th quarter valued at about $104,000. CastleKnight Management LP increased its position in shares of ONE Group Hospitality by 4.7% in 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 last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of ONE Group Hospitality in the third quarter valued at about $170,000. Institutional investors own 29.14% of the company's stock.

ONE Group Hospitality Price Performance

Shares of STKS opened at $1.67 on Friday. The firm has a 50-day moving average of $1.82 and a 200-day moving average of $1.87. The ONE Group Hospitality, Inc. has a one year low of $1.62 and a one year high of $3.38. The company has a market cap of $52.92 million, a PE ratio of -0.44 and a beta of 1.36.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STKS. Weiss Ratings upgraded ONE Group Hospitality from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Zacks Research downgraded ONE Group Hospitality from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Finally, Piper Sandler lowered their price target on ONE Group Hospitality from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $4.00.

ONE Group Hospitality 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.

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