BJ’s Restaurants, Inc. (NASDAQ:BJRI) Short Interest Update

BJ’s Restaurants, Inc. (NASDAQ:BJRIGet Rating) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,320,000 shares, an increase of 27.5% from the June 30th total of 1,820,000 shares. Currently, 10.2% of the shares of the stock are sold short. Based on an average trading volume of 350,200 shares, the short-interest ratio is presently 6.6 days.

BJ’s Restaurants Stock Performance

Shares of BJRI opened at $23.19 on Wednesday. The company’s 50 day moving average price is $23.43 and its 200 day moving average price is $26.75. BJ’s Restaurants has a 52 week low of $20.15 and a 52 week high of $47.20. The company has a market capitalization of $543.57 million, a PE ratio of -105.41, a PEG ratio of 20.67 and a beta of 1.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.33 and a current ratio of 0.05.

BJ’s Restaurants (NASDAQ:BJRIGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The restaurant operator reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.22). BJ’s Restaurants had a negative net margin of 0.42% and a negative return on equity of 1.08%. The company had revenue of $329.70 million for the quarter, compared to analysts’ expectations of $328.02 million. During the same period in the previous year, the firm posted $0.26 earnings per share. Research analysts expect that BJ’s Restaurants will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in BJ’s Restaurants by 2.7% during the second quarter. Comerica Bank now owns 17,086 shares of the restaurant operator’s stock valued at $394,000 after purchasing an additional 445 shares in the last quarter. Victory Capital Management Inc. grew its position in BJ’s Restaurants by 26.8% in the second quarter. Victory Capital Management Inc. now owns 315,560 shares of the restaurant operator’s stock worth $6,841,000 after acquiring an additional 66,694 shares in the last quarter. SG Americas Securities LLC grew its position in BJ’s Restaurants by 138.8% in the second quarter. SG Americas Securities LLC now owns 10,807 shares of the restaurant operator’s stock worth $234,000 after acquiring an additional 6,281 shares in the last quarter. Russell Investments Group Ltd. grew its position in BJ’s Restaurants by 10.8% in the second quarter. Russell Investments Group Ltd. now owns 678,137 shares of the restaurant operator’s stock worth $14,699,000 after acquiring an additional 66,003 shares in the last quarter. Finally, KBC Group NV bought a new stake in BJ’s Restaurants in the second quarter worth approximately $43,000. 99.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BJRI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BJ’s Restaurants from $40.00 to $28.00 and set a “maintains” rating for the company in a research note on Monday, July 25th. Citigroup boosted their target price on shares of BJ’s Restaurants from $24.00 to $26.00 in a report on Friday, July 22nd. Wedbush boosted their target price on shares of BJ’s Restaurants from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 22nd. Piper Sandler dropped their target price on shares of BJ’s Restaurants from $38.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, July 22nd. Finally, Benchmark dropped their target price on shares of BJ’s Restaurants to $32.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.00.

About BJ’s Restaurants

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BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. The company's restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 19, 2022, it operated 213 restaurants in 29 states. The company was founded in 1978 and is based in Huntington Beach, California.

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