ONE Group Hospitality (NASDAQ:STKS) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• ONE Group Hospitality shares fell below their 200-day moving average, trading as low as $1.65 and last changing hands at $1.66, compared with the 200-day average of $1.87.
• Analyst sentiment is largely negative: Zacks Research downgraded the stock to “strong sell,” Piper Sandler cut its price target to $4 and maintained a “neutral” rating, while the consensus rating is “Reduce” with a $4 target.
• Institutional investors own 29.14% of the company, with firms including Nantahala Capital Management, BlackRock and Bank of America recently establishing or increasing positions.

The ONE Group Hospitality, Inc. (NASDAQ:STKS - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.87 and traded as low as $1.65. ONE Group Hospitality shares last traded at $1.66, with a volume of 9,674 shares.

Wall Street Analysts Forecast Growth

STKS has been the subject of several recent analyst reports. Zacks Research cut shares of ONE Group Hospitality from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Weiss Ratings raised shares of ONE Group Hospitality from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Piper Sandler lowered their price objective on shares of 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 research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ONE Group Hospitality currently has a consensus rating of "Reduce" and a consensus target price of $4.00.

ONE Group Hospitality Trading Up 0.6%

The stock has a 50-day simple moving average of $1.83 and a 200 day simple moving average of $1.87. The stock has a market capitalization of $52.61 million, a price-to-earnings ratio of -0.44 and a beta of 1.36.

Institutional Investors Weigh In On ONE Group Hospitality

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new position in shares of ONE Group Hospitality during the 2nd quarter valued at $4,263,379,000. Bank of America Corp DE purchased a new stake in shares of ONE Group Hospitality during the second quarter worth $51,000. BlackRock Inc. acquired a new stake in ONE Group Hospitality during the second quarter valued at $905,000. CastleKnight Management LP boosted its position in 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 purchasing an additional 58,015 shares during the last quarter. Finally, Piedmont Capital Management LLC NC purchased a new position in ONE Group Hospitality in the fourth quarter valued at about $104,000. 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.

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