ONE Group Hospitality (NASDAQ:STKS) Shares Pass Below 200 Day Moving Average – What’s Next?

The ONE Group Hospitality, Inc. (NASDAQ:STKS) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.89 and traded as low as $1.77. ONE Group Hospitality shares last traded at $1.77, with a volume of 41,693 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STKS. Zacks Research lowered shares of ONE Group Hospitality from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Piper Sandler dropped 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. Finally, Weiss Ratings raised ONE Group Hospitality from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.00.

ONE Group Hospitality Stock Down 0.9%

The firm has a market capitalization of $53.08 million, a price-to-earnings ratio of -0.44 and a beta of 1.36. The firm has a 50 day moving average of $1.85 and a two-hundred day moving average of $1.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STKS. Bank of America Corp DE increased its holdings in ONE Group Hospitality by 18.7% in the fourth quarter. Bank of America Corp DE now owns 34,782 shares of the restaurant operator’s stock valued at $101,000 after purchasing an additional 5,477 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of ONE Group Hospitality during the second quarter valued at about $132,000. Jane Street Group LLC boosted its holdings in ONE Group Hospitality by 423.5% in the second quarter. Jane Street Group LLC now owns 101,174 shares of the restaurant operator’s stock worth $410,000 after acquiring an additional 81,848 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ONE Group Hospitality by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,227,751 shares of the restaurant operator’s stock worth $3,634,000 after purchasing an additional 14,765 shares in the last quarter. Finally, Group One Trading LLC lifted its stake in shares of ONE Group Hospitality by 18,965.0% in the third quarter. Group One Trading LLC now owns 19,065 shares of the restaurant operator’s stock valued at $56,000 after buying an additional 18,965 shares in the last quarter. Institutional investors and hedge funds own 29.14% of the company’s stock.

ONE Group Hospitality Company 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.