Waitr (NASDAQ:WTRH) Trading Down 46.5%

Waitr Holdings Inc (NASDAQ:WTRH) fell 46.5% on Thursday . The company traded as low as $0.58 and last traded at $0.59, 4,601,850 shares were traded during mid-day trading. An increase of 350% from the average session volume of 1,023,052 shares. The stock had previously closed at $1.11.

A number of research analysts recently issued reports on the company. Royal Bank of Canada lowered Waitr from an “outperform” rating to a “sector perform” rating in a report on Thursday. Craig Hallum reiterated a “buy” rating and issued a $5.00 target price (down from $20.00) on shares of Waitr in a report on Friday, August 9th. They noted that the move was a valuation call. Piper Jaffray Companies lowered Waitr from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $11.00 to $4.00 in a report on Friday, August 9th. Zacks Investment Research upgraded Waitr from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a report on Saturday, August 3rd. Finally, Benchmark decreased their target price on Waitr from $18.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Waitr presently has a consensus rating of “Buy” and a consensus price target of $7.31.

The stock has a market capitalization of $82.05 million and a PE ratio of -0.27. The stock has a fifty day moving average of $1.46 and a 200-day moving average of $5.51. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.45.

Waitr (NASDAQ:WTRH) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.09). The company had revenue of $51.34 million during the quarter, compared to analysts’ expectations of $54.15 million. Equities research analysts expect that Waitr Holdings Inc will post -1.1 EPS for the current year.

In other Waitr news, President Joseph Stough purchased 45,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $1.47 per share, with a total value of $66,150.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tilman J. Fertitta purchased 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were acquired at an average cost of $1.43 per share, with a total value of $1,430,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,094,000 shares of company stock valued at $1,567,050. 23.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in WTRH. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Waitr during the 2nd quarter worth about $26,000. Sanders Morris Harris LLC purchased a new stake in Waitr during the 2nd quarter worth about $63,000. Hayden Royal LLC purchased a new stake in Waitr during the 2nd quarter worth about $63,000. Balyasny Asset Management LLC purchased a new stake in Waitr during the 2nd quarter worth about $85,000. Finally, Arthur M. Cohen & Associates LLC purchased a new stake in Waitr during the 2nd quarter worth about $89,000. 60.82% of the stock is owned by institutional investors.

About Waitr (NASDAQ:WTRH)

Waitr Holdings Inc provides online food ordering and delivery services in the Southeastern United States. Its Waitr Platform and Bite Squad Platform facilitates ordering of food and beverages by diners from restaurant partners for pick-up and delivery through a network of drivers. As of December 31, 2018, the company had approximately 8,500 restaurant partners in 250 cities.

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