Short Interest in GEN Restaurant Group, Inc. (NASDAQ:GENK) Grows By 5.5%

GEN Restaurant Group, Inc. (NASDAQ:GENK) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 139,800 shares, a growth of 5.5% from the October 31st total of 132,500 shares. Based on an average daily trading volume, of 45,000 shares, the short-interest ratio is presently 3.1 days. Currently, 3.2% of the shares of the company are short sold.

Insider Buying and Selling

In other news, CEO David Wook Jin Kim bought 3,954 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $7.90 per share, with a total value of $31,236.60. Following the completion of the acquisition, the chief executive officer now owns 135,093 shares of the company’s stock, valued at $1,067,234.70. This represents a 3.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 61.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GEN Restaurant Group

Hedge funds have recently made changes to their positions in the stock. Apis Capital Advisors LLC acquired a new stake in shares of GEN Restaurant Group during the second quarter valued at about $91,000. Connors Investor Services Inc. bought a new stake in GEN Restaurant Group during the 2nd quarter worth approximately $124,000. SkyView Investment Advisors LLC bought a new position in shares of GEN Restaurant Group during the second quarter valued at $154,000. Renaissance Technologies LLC raised its stake in shares of GEN Restaurant Group by 86.2% during the second quarter. Renaissance Technologies LLC now owns 35,199 shares of the company’s stock valued at $319,000 after acquiring an additional 16,299 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of GEN Restaurant Group by 5.5% in the third 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 last quarter. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

GEN Restaurant Group Price Performance

Shares of NASDAQ:GENK traded down $0.02 during midday trading on Tuesday, hitting $8.70. The stock had a trading volume of 22,221 shares, compared to its average volume of 60,350. The company’s 50-day moving average price is $8.52 and its 200-day moving average price is $8.99. GEN Restaurant Group has a fifty-two week low of $5.61 and a fifty-two week high of $14.46. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $285.36 million, a P/E ratio of 51.29 and a beta of 1.95.

GEN Restaurant Group (NASDAQ:GENK) last released its earnings results on Tuesday, November 12th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. GEN Restaurant Group had a return on equity of 1.83% and a net margin of 0.39%. The firm had revenue of $49.11 million during the quarter, compared to analysts’ expectations of $49.90 million. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that GEN Restaurant Group will post 0.01 EPS for the current fiscal year.

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.