Short Interest in GEN Restaurant Group, Inc. (NASDAQ:GENK) Grows By 141.6%

GEN Restaurant Group, Inc. (NASDAQ:GENK) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 298,600 shares, an increase of 141.6% from the December 31st total of 123,600 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 54,000 shares, the days-to-cover ratio is presently 5.5 days.

Insider Buying and Selling

In other news, CEO David Wook Jin Kim bought 12,500 shares of GEN Restaurant Group stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $8.09 per share, with a total value of $101,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 147,593 shares of the company’s stock, valued at $1,194,027.37. The trade was a 9.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders purchased 21,731 shares of company stock valued at $171,740. 61.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GEN Restaurant Group

A number of institutional investors have recently bought and sold shares of GENK. Renaissance Technologies LLC increased 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 buying an additional 16,299 shares during the last quarter. Geode Capital Management LLC increased its stake in GEN Restaurant Group by 5.5% during the third 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 during the last quarter. Bard Associates Inc. raised its position in GEN Restaurant Group by 1.7% in the third quarter. Bard Associates Inc. now owns 175,676 shares of the company’s stock valued at $1,483,000 after purchasing an additional 2,956 shares during the period. Sanders Morris Harris LLC raised its position in GEN Restaurant Group by 14.3% in the fourth quarter. Sanders Morris Harris LLC now owns 219,990 shares of the company’s stock valued at $1,628,000 after purchasing an additional 27,591 shares during the period. Finally, Portolan Capital Management LLC lifted its stake in shares of GEN Restaurant Group by 1.8% in the 3rd quarter. Portolan Capital Management LLC now owns 372,759 shares of the company’s stock valued at $3,146,000 after purchasing an additional 6,641 shares during the last quarter. 10.22% of the stock is owned by hedge funds and other institutional investors.

GEN Restaurant Group Price Performance

Shares of GEN Restaurant Group stock traded up $0.15 on Friday, hitting $6.50. 6,348 shares of the company were exchanged, compared to its average volume of 40,686. 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 50-day moving average price of $7.59 and a 200 day moving average price of $8.21. The stock has a market capitalization of $213.04 million, a price-to-earnings ratio of 38.21 and a beta of 1.95. 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 issued its earnings results 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. GEN Restaurant Group had a return on equity of 1.83% and a net margin of 0.39%. The company 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 business earned $0.08 EPS. As a group, sell-side analysts predict that GEN Restaurant Group will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.