ONE Group Hospitality (NASDAQ:STKS) Shares Cross Below 200 Day Moving Average – Time to Sell?

The ONE Group Hospitality, Inc. (NASDAQ:STKS)’s share price passed 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.

Analysts Set New Price Targets

A number of analysts have issued reports on STKS shares. Piper Sandler cut their target price on ONE Group Hospitality from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Weiss Ratings raised shares of ONE Group Hospitality from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research lowered ONE Group Hospitality from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $4.00.

ONE Group Hospitality Stock Up 0.6%

The stock has a market capitalization of $51.97 million, a PE ratio of -0.43 and a beta of 1.32. The stock has a fifty day moving average of $1.70 and a 200-day moving average of $1.80.

Hedge Funds Weigh In On ONE Group Hospitality

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in shares of ONE Group Hospitality in the 2nd quarter valued at approximately $51,000. Piedmont Capital Management LLC NC acquired a new stake in ONE Group Hospitality during the fourth quarter worth approximately $104,000. BlackRock Inc. acquired a new stake in ONE Group Hospitality during the 2nd quarter worth $905,000. Finally, Nantahala Capital Management LLC acquired a new position in ONE Group Hospitality in the second quarter valued at $4,263,379. 29.14% of the stock is owned by institutional investors and hedge funds.

About ONE Group Hospitality

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.