GEN Restaurant Group, Inc. (NASDAQ:GENK) Stock Short Interest Report for October

Key Points

• Short interest surged 288.8% to 1.12 million shares as of October 15, representing 8.3% of GEN Restaurant Group’s outstanding shares.
• Sanders Morris Harris initiated a position of 609,102 shares, while institutional investors collectively own 10.22% of the company.
• GENK traded at $1.60, near its one-year low, after reporting a quarterly loss of $0.06 per share and revenue below analyst expectations. Analysts maintain a consensus “Hold” rating with a $3.00 price target.

GEN Restaurant Group, Inc. (NASDAQ:GENK - Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,118,475 shares, a growth of 288.8% from the September 30th total of 287,648 shares. Currently, 8.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,286,523 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On GEN Restaurant Group

An institutional investor recently bought a new position in GEN Restaurant Group stock. Sanders Morris Harris LLC bought a new position in shares of GEN Restaurant Group, Inc. (NASDAQ:GENK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 609,102 shares of the company's stock, valued at approximately $1,060,000. Sanders Morris Harris LLC owned approximately 1.85% of GEN Restaurant Group as of its most recent SEC filing. 10.22% of the stock is currently owned by institutional investors.

GEN Restaurant Group Price Performance

Shares of NASDAQ:GENK traded up $0.03 on Wednesday, hitting $1.60. The company's stock had a trading volume of 55,623 shares, compared to its average volume of 375,627. The company has a market capitalization of $52.75 million, a PE ratio of -1.93 and a beta of 0.98. GEN Restaurant Group has a 1 year low of $1.39 and a 1 year high of $3.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.29 and a quick ratio of 0.25. The company has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $1.90.

GEN Restaurant Group (NASDAQ:GENK - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). GEN Restaurant Group had a negative net margin of 2.09% and a negative return on equity of 7.76%. The company had revenue of $55.73 million for the quarter, compared to analysts' expectations of $57.20 million. Sell-side analysts forecast that GEN Restaurant Group will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GENK shares. Weiss Ratings lowered shares of GEN Restaurant Group from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Zacks Research raised shares of GEN Restaurant Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $3.00.

About GEN Restaurant Group

GEN Restaurant Group, Inc operates GEN Korean BBQ, an Asian-inspired restaurant concept specializing in Korean barbecue. Its restaurants offer an all-you-can-eat dining experience in which guests select from a menu of marinated meats, seafood, vegetables, appetizers and other Korean- and Asian-influenced dishes that are prepared on tabletop grills.

The company's menu typically includes items such as bulgogi, spicy pork, chicken, beef, shrimp and other barbecue selections, along with traditional Korean side dishes and sauces.

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