GEN Restaurant Group, Inc. (NASDAQ:GENK) Sees Significant Drop in Short Interest

GEN Restaurant Group, Inc. (NASDAQ:GENK) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 123,600 shares, a drop of 11.6% from the November 15th total of 139,800 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 42,100 shares, the days-to-cover ratio is currently 2.9 days.

GEN Restaurant Group Stock Down 4.1 %

Shares of GENK traded down $0.34 during midday trading on Friday, hitting $7.86. The company had a trading volume of 54,821 shares, compared to its average volume of 59,418. The company’s 50-day simple moving average is $8.51 and its 200-day simple moving average is $8.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $257.81 million, a P/E ratio of 46.24 and a beta of 1.93. GEN Restaurant Group has a 1 year low of $5.61 and a 1 year high of $14.46.

GEN Restaurant Group (NASDAQ:GENK) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $49.11 million during the quarter, compared to analysts’ expectations of $49.90 million. GEN Restaurant Group had a return on equity of 1.83% and a net margin of 0.39%. During the same quarter last year, the business posted $0.08 EPS. As a group, sell-side analysts expect that GEN Restaurant Group will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “buy” rating and issued a $14.00 price objective on shares of GEN Restaurant Group in a research note on Monday, November 18th.

Insider Activity at GEN Restaurant Group

In other news, CEO David Wook Jin Kim bought 3,954 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $7.90 per share, for a total transaction of $31,236.60. Following the acquisition, the chief executive officer now directly owns 135,093 shares of the company’s stock, valued at $1,067,234.70. The trade was a 3.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 61.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GEN Restaurant Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of GEN Restaurant Group by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 46,496 shares of the company’s stock worth $393,000 after acquiring an additional 2,427 shares in the last quarter. Portolan Capital Management LLC raised its position in shares of GEN Restaurant Group by 1.8% during the 3rd quarter. Portolan Capital Management LLC now owns 372,759 shares of the company’s stock worth $3,146,000 after acquiring an additional 6,641 shares in the last quarter. Wasatch Advisors LP raised its position in shares of GEN Restaurant Group by 72.7% during the 3rd quarter. Wasatch Advisors LP now owns 838,451 shares of the company’s stock worth $7,077,000 after acquiring an additional 352,922 shares in the last quarter. Bard Associates Inc. raised its position in shares of GEN Restaurant Group by 1.7% during the 3rd quarter. Bard Associates Inc. now owns 175,676 shares of the company’s stock worth $1,483,000 after acquiring an additional 2,956 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of GEN Restaurant Group during the 2nd quarter worth about $154,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

GEN Restaurant Group Company Profile

GEN Restaurant Group, Inc operates restaurants in California, Arizona, Hawaii, Nevada, Texas, New York, and Florida. It offers meats, poultry, and seafood. The company was founded in 2011 and is based in Cerritos, California.