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

GEN Restaurant Group, Inc. (NASDAQ:GENK) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 123,600 shares, a decrease of 11.6% from the November 15th total of 139,800 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 42,100 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

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

Insider Activity at GEN Restaurant Group

In related news, CEO David Wook Jin Kim bought 3,954 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of $7.90 per share, with a total value of $31,236.60. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 61.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GEN Restaurant Group

A number of hedge funds have recently modified their holdings of GENK. Apis Capital Advisors LLC purchased a new position in shares of GEN Restaurant Group during the 2nd quarter worth $91,000. Connors Investor Services Inc. purchased a new position in shares of GEN Restaurant Group during the 2nd quarter worth $124,000. SkyView Investment Advisors LLC purchased a new position in shares of GEN Restaurant Group during the 2nd quarter worth $154,000. Renaissance Technologies LLC grew its holdings in shares of GEN Restaurant Group by 86.2% during the 2nd quarter. Renaissance Technologies LLC now owns 35,199 shares of the company’s stock worth $319,000 after purchasing an additional 16,299 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 purchasing an additional 2,427 shares during the period. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

GEN Restaurant Group Trading Down 4.1 %

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

GEN Restaurant Group (NASDAQ:GENK) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.08 EPS. Research analysts forecast that GEN Restaurant Group will post 0.01 EPS for the current fiscal year.

About GEN Restaurant Group

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.