Piper Sandler Initiates Coverage on ONE Group Hospitality (NASDAQ:STKS)

Piper Sandler started coverage on shares of ONE Group Hospitality (NASDAQ:STKS - Free Report) in a research note published on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $6.00 target price on the restaurant operator's stock.

Several other research analysts also recently weighed in on STKS. Wall Street Zen upgraded shares of ONE Group Hospitality from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Northcoast Research initiated coverage on shares of ONE Group Hospitality in a report on Friday, April 11th. They issued a "buy" rating and a $5.00 target price for the company. Finally, Noble Financial upgraded shares of ONE Group Hospitality to a "strong-buy" rating in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.88.

ONE Group Hospitality Stock Down 1.2%

STKS traded down $0.05 during trading on Monday, hitting $3.75. 114,933 shares of the company's stock were exchanged, compared to its average volume of 111,501. The company has a quick ratio of 0.42, a current ratio of 0.50 and a debt-to-equity ratio of 8.78. The business's 50 day moving average is $4.00 and its two-hundred day moving average is $3.39. ONE Group Hospitality has a fifty-two week low of $2.37 and a fifty-two week high of $5.42. The stock has a market cap of $116.00 million, a P/E ratio of -2.93, a PEG ratio of 0.46 and a beta of 2.03.

ONE Group Hospitality (NASDAQ:STKS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The restaurant operator reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.32. ONE Group Hospitality had a negative net margin of 1.60% and a positive return on equity of 48.46%. The firm had revenue of $211.13 million for the quarter, compared to the consensus estimate of $202.87 million. As a group, equities analysts expect that ONE Group Hospitality will post -0.18 earnings per share for the current fiscal year.

Insider Activity at ONE Group Hospitality

In other news, insider David Kanen sold 160,000 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $4.70, for a total value of $752,000.00. Following the completion of the sale, the insider owned 1,823,266 shares in the company, valued at $8,569,350.20. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 350,091 shares of company stock valued at $1,669,918 in the last three months. Corporate insiders own 25.10% of the company's stock.

Institutional Trading of ONE Group Hospitality

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in ONE Group Hospitality by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,732 shares of the restaurant operator's stock worth $28,000 after buying an additional 3,316 shares during the last quarter. XTX Topco Ltd purchased a new stake in ONE Group Hospitality during the fourth quarter worth about $35,000. Bank of America Corp DE increased 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 last quarter. Barclays PLC increased its holdings in ONE Group Hospitality by 6.7% during the fourth quarter. Barclays PLC now owns 49,634 shares of the restaurant operator's stock worth $143,000 after buying an additional 3,126 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in ONE Group Hospitality during the first quarter worth about $153,000. Hedge funds and other institutional investors own 29.14% of the company's stock.

About ONE Group Hospitality

The ONE Group Hospitality, Inc, a restaurant company, develops, owns, operates, manages, and licenses restaurants and lounges worldwide. It operates through STK, Kona Grill, and ONE Hospitality segments. The company also provides turn-key food and beverage services for hospitality venues, including hotels, casinos, and other locations.