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

Key Points

• STKS fell below its 200-day moving average of $1.80, trading as low as $1.57 before closing at $1.64. The company’s market capitalization is approximately $52 million.
• Analyst sentiment remains negative: ONE Group Hospitality has an average “Reduce” rating, with one Buy, one Hold, and two Sell ratings. Piper Sandler cut its price target to $4.00, while Zacks Research downgraded the stock to “strong sell.”
• Institutional investors recently initiated positions, including Nantahala Capital Management and BlackRock; institutions and hedge funds collectively own 29.14% of the company’s shares.

Shares of The ONE Group Hospitality, Inc. (NASDAQ:STKS - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.80 and traded as low as $1.57. ONE Group Hospitality shares last traded at $1.64, with a volume of 14,782 shares traded.

Wall Street Analysts Forecast Growth

STKS has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of ONE Group Hospitality from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Zacks Research lowered ONE Group Hospitality from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded ONE Group Hospitality from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, ONE Group Hospitality has an average rating of "Reduce" and an average price target of $4.00.

ONE Group Hospitality Stock Up 0.6%

The business's 50-day simple moving average is $1.70 and its two-hundred day simple moving average is $1.80. The firm has a market capitalization of $51.97 million, a price-to-earnings ratio of -0.43 and a beta of 1.32.

Institutional Investors Weigh In On ONE Group Hospitality

Several institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new position in shares of ONE Group Hospitality in the second quarter valued at approximately $4,263,379. BlackRock Inc. purchased a new stake in shares of ONE Group Hospitality during the second quarter worth $905,000. Piedmont Capital Management LLC NC purchased a new stake in shares of ONE Group Hospitality during the fourth quarter worth $104,000. Finally, Bank of America Corp DE acquired a new stake in shares of ONE Group Hospitality in the second quarter valued at $51,000. Hedge funds and other institutional investors own 29.14% of the company's stock.

ONE Group Hospitality Company Profile

ONE Group Hospitality, Inc is a restaurant and hospitality company that develops, owns, operates and manages upscale and polished-casual dining establishments. The company is best known for STK Steakhouse, a contemporary steakhouse brand that combines premium steaks and seafood with a lounge-oriented dining and entertainment atmosphere.

ONE Group also operates Kona Grill, an upscale-casual restaurant concept offering a broad menu that includes sushi, seafood, steaks, burgers, salads and other globally inspired dishes.

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