ONE Group Hospitality (NASDAQ:STKS) Coverage Initiated at Piper Sandler

Analysts at Piper Sandler assumed coverage on shares of ONE Group Hospitality (NASDAQ:STKS) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $6.00 price target on the restaurant operator’s stock. Piper Sandler’s price objective indicates a potential upside of 51.13% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of ONE Group Hospitality from a “sell” rating to a “hold” rating in a research note 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 on the stock. Finally, Noble Financial upgraded shares of ONE Group Hospitality to a “strong-buy” rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.88.

ONE Group Hospitality Price Performance

Shares of STKS opened at $3.97 on Monday. The stock has a 50 day simple moving average of $3.97 and a 200 day simple moving average of $3.38. ONE Group Hospitality has a 52-week low of $2.37 and a 52-week high of $5.42. The company has a debt-to-equity ratio of 8.78, a quick ratio of 0.42 and a current ratio of 0.50. The firm has a market capitalization of $122.68 million, a PE ratio of -3.13, a P/E/G ratio of 0.40 and a beta of 2.03.

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

Insider Buying and Selling at ONE Group Hospitality

In related news, insider David Kanen sold 160,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 1,823,266 shares of the company’s stock, valued at $8,569,350.20. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 350,091 shares of company stock worth $1,669,918. 19.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STKS. Nantahala Capital Management LLC lifted its holdings in ONE Group Hospitality by 1.6% during the 1st quarter. Nantahala Capital Management LLC now owns 2,121,084 shares of the restaurant operator’s stock worth $6,342,000 after buying an additional 33,690 shares during the period. CastleKnight Management LP increased its stake in shares of ONE Group Hospitality by 9.4% in the fourth quarter. CastleKnight Management LP now owns 1,172,074 shares of the restaurant operator’s stock valued at $3,399,000 after buying an additional 100,300 shares during the period. McGowan Group Asset Management Inc. bought a new position in shares of ONE Group Hospitality during the fourth quarter worth about $2,204,000. Geode Capital Management LLC lifted its stake in shares of ONE Group Hospitality by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 506,337 shares of the restaurant operator’s stock worth $1,469,000 after acquiring an additional 8,162 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of ONE Group Hospitality by 3.5% in the fourth quarter. Northern Trust Corp now owns 190,869 shares of the restaurant operator’s stock worth $554,000 after acquiring an additional 6,520 shares during the period. Institutional investors and hedge funds own 29.14% of the company’s stock.

ONE Group Hospitality Company Profile

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.