Short Interest in GEN Restaurant Group, Inc. (NASDAQ:GENK) Drops By 11.6%

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. Based on an average trading volume of 42,100 shares, the short-interest ratio is currently 2.9 days. Currently, 2.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Insider Activity at GEN Restaurant Group

In related news, CEO David Wook Jin Kim purchased 3,954 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired 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 in the company, valued at approximately $1,067,234.70. The trade was a 3.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 61.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

GEN Restaurant Group Stock Down 1.6 %

Shares of NASDAQ:GENK traded down $0.13 during midday trading on Tuesday, reaching $7.90. The company’s stock had a trading volume of 65,093 shares, compared to its average volume of 59,844. GEN Restaurant Group has a 12-month low of $5.61 and a 12-month high of $14.46. The firm has a 50 day moving average of $8.50 and a 200-day moving average of $8.73. The firm has a market capitalization of $259.12 million, a P/E ratio of 46.41 and a beta of 1.93. 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 earnings results on Tuesday, November 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $49.11 million for the quarter, compared to analysts’ expectations of $49.90 million. GEN Restaurant Group had a net margin of 0.39% and a return on equity of 1.83%. During the same quarter last year, the business earned $0.08 EPS. On average, research analysts anticipate that GEN Restaurant Group will post 0.01 earnings per share for the current 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.