Zacks Research Downgrades ONE Group Hospitality (NASDAQ:STKS) to Strong Sell

ONE Group Hospitality (NASDAQ:STKS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Piper Sandler lowered their price target on ONE Group Hospitality from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of ONE Group Hospitality in a report on Wednesday, October 8th. Finally, Wall Street Zen cut ONE Group Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.63.

ONE Group Hospitality Stock Down 3.6%

STKS opened at $2.12 on Monday. The company has a debt-to-equity ratio of 16.52, a current ratio of 0.35 and a quick ratio of 0.28. The stock has a market capitalization of $65.64 million, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 0.36 and a beta of 2.03. The business has a 50-day moving average of $2.58 and a two-hundred day moving average of $3.20. ONE Group Hospitality has a 12 month low of $2.10 and a 12 month high of $5.26.

ONE Group Hospitality (NASDAQ:STKS) last posted its quarterly earnings results on Tuesday, August 5th. The restaurant operator reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $203.91 million during the quarter, compared to analysts’ expectations of $207.95 million. ONE Group Hospitality had a negative net margin of 1.91% and a positive return on equity of 69.82%. On average, research analysts expect that ONE Group Hospitality will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On ONE Group Hospitality

Institutional investors and hedge funds have recently made changes to their positions in the business. General Equity Holdings LP raised its position in shares of ONE Group Hospitality by 37.7% during the 2nd quarter. General Equity Holdings LP now owns 439,107 shares of the restaurant operator’s stock valued at $1,778,000 after acquiring an additional 120,164 shares in the last quarter. Bank of America Corp DE increased its position in ONE Group Hospitality by 14.1% in the second quarter. Bank of America Corp DE now owns 46,040 shares of the restaurant operator’s stock worth $186,000 after buying an additional 5,699 shares during the period. Jane Street Group LLC increased its position 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 buying an additional 81,848 shares during the period. Qube Research & Technologies Ltd acquired a new stake in ONE Group Hospitality in the second quarter worth $132,000. Finally, Quadrature Capital Ltd acquired a new stake in ONE Group Hospitality in the second quarter worth $100,000. 29.14% of the stock is currently owned by hedge funds and other institutional investors.

About ONE Group Hospitality

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.