GEN Restaurant Group (NASDAQ:GENK) Stock Price Up 7.8% – Here’s What Happened

GEN Restaurant Group, Inc. (NASDAQ:GENK)’s stock price rose 7.8% during trading on Thursday . The stock traded as high as $2.08 and last traded at $2.08. Approximately 70,071 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 33,200 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Several brokerages have commented on GENK. Weiss Ratings reissued a “sell (d)” rating on shares of GEN Restaurant Group in a research note on Tuesday, April 21st. Benchmark downgraded GEN Restaurant Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Zacks Research cut GEN Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.50.

GEN Restaurant Group Stock Performance

The company has a current ratio of 0.29, a quick ratio of 0.26 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $63.21 million, a P/E ratio of -2.59 and a beta of 0.99. The company has a 50-day moving average price of $1.89 and a two-hundred day moving average price of $2.06.

GEN Restaurant Group (NASDAQ:GENK) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.07). GEN Restaurant Group had a negative net margin of 1.86% and a negative return on equity of 4.50%. The business had revenue of $53.90 million for the quarter, compared to the consensus estimate of $57.00 million. On average, equities analysts forecast that GEN Restaurant Group, Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On GEN Restaurant Group

Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of GEN Restaurant Group by 29.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 53,573 shares of the company’s stock valued at $296,000 after acquiring an additional 12,296 shares during the period. XTX Topco Ltd bought a new stake in GEN Restaurant Group in the 2nd quarter valued at about $49,000. Finally, Jones Financial Companies Lllp boosted its position in GEN Restaurant Group by 1,376,466.7% during the first quarter. Jones Financial Companies Lllp now owns 41,297 shares of the company’s stock worth $228,000 after purchasing an additional 41,294 shares during the period. 10.22% of the stock is owned by institutional investors.

GEN Restaurant Group Company Profile

GEN Restaurant Group, Inc, operating as Gen Korean BBQ House, is a restaurant operator specializing in an all-you-can-eat Korean barbecue dining concept. The company offers patrons a hands-on grilling experience with a selection of premium meats, seafood, and vegetables cooked tableside, alongside traditional Korean side dishes and beverages. Gen Korean BBQ House locations feature modern décor and a fast-casual service style designed to appeal to a broad demographic of consumers seeking experiential dining.

The company’s restaurants serve a core menu of marinated and non-marinated proteins, including beef, pork, chicken and plant-based alternatives, complemented by signature banchan (side dishes), sauces and dessert offerings.