Waitr Holdings (WTRH): Could see huge 956% run

Founded in 2013 and based in Lafayette, Louisiana, Waitr Holdings (WTRH) is a leader in on-demand food ordering and delivery. Waitr, along with recently acquired food delivery company Bite Squad, connects local restaurants to hungry diners in underserved U.S. markets. Together they are a convenient way to discover, order and receive great food from local restaurants and national chains.

Waitr Holdings (WTRH): Second Quarter 2020 Highlights

  • Revenue for the second quarter of 2020 was $60.5 million, compared to $51.3 million in the second quarter of 2019, an increase of 18%.
  • Net income for the second quarter of 2020 was $10.7 million, or $0.10 per diluted share, compared to a loss of $24.9 million, or a loss of $0.32 per diluted share, in the second quarter of 2019, a change of $35.6 million.
  • Adjusted EBITDA1 for the second quarter of 2020 was $16.7 million, compared to a loss of $14.9 million in the second quarter of 2019, a change of $31.6 million.
  • As of July 31, 2020, cash on hand was $87.3 million.
  • On August 3, 2020, the Company prepaid $10.5 million in debt in exchange for a rate decrease of 200 basis points for 1 year along with an extension of the maturity date 1 year to November 15, 2023 on both its credit facility and convertible notes.

Waitr Holdings (WTRH): Recent News and Highlights

  • Oct 8 2020 – Waitr Holdings Inc. a leader in on-demand food ordering and delivery, today announced that it has launched tableside service technology for restaurants. Through the scanning of a QR code on a smartphone, the new product allows diners to access the menu from the table, place an order, pay and tip all in the Waitr app without contact.
  • Jul 9 2020 – Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced three management appointments to enhance the depth and expertise of the Company’s leadership team. Mark D’Ambrosio has been appointed Chief Sales Officer; David Cronin has been appointed Chief Engagement Officer; and Thomas Pritchard has been appointed General Counsel.
  • Jun 30, 2020 : Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced that it has hired approximately 225 customer service and dispatch team members in Louisiana since January of this year. The Company also announced that is has discontinued previous plans to have these positions, as well as others, based in Mexico.
  • May 26 2020 : Partnership with FIVE GUYS : Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced a new partnership with Five Guys as it expands its delivery selection for diners. Effective immediately, customers using the Waitr app can order their favorite foods from more than 150 Five Guys locations around the nation.

Waitr Holdings (WTRH): What do analysts think?

  • Waitr Holdings Inc. (WTRH) has great growth outlook for 2020: The consensus among analysts is that Waitr Holdings Inc. (WTRH) is an Overweight stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 4 have rated it as a Hold, with 3 advising it as a Buy.
  • Who owns WTRH stock? Insiders own 19.13% of the company shares, while shares held by institutions stand at 28.4% with a share float percentage of 35.12%. Investors are also buoyed by the number of investors in a company, with Waitr Holdings Inc. having a total of 100 institutions that hold shares in the company. The top two institutional holders are Luxor Capital Group, LP with over 10.17 Million shares worth more than $26.76 Million. As of June 29, 2020, Luxor Capital Group, LP held 9.24% of shares outstanding.

Should you invest in Waitr Holdings (WTRH)?

Yes, while pandemic penny stocks have been “a thing” for the last several months, Waitr Holdings Inc. (WTRH Stock Report) has been in the list of penny stocks to watch for much longer. At the time, there really wasn’t much to discuss besides some irregular volume. In fact, WTRH stock was more along the line of a speculative hype stock than anything else in my opinion. However, over the better part of the last year, we’ve actually seen an evolution, first-hand. In a press release Carl Grimstad, Chairman and CEO of Waitr, actually came out and said that “distractions resulted in a lack of focus on our customers and operations.”

While there are countless penny stocks that are simply breakout trades with minimal corporate development, there are plenty of others with management that actually take accountability. Whether or not Waitr ends up becoming that will be up to them. However, this was an interesting step taken by a company that had been very quiet for months on end. Needless to say, WTRH stock has managed to climb as high as $5.85 this year. After consolidating in August and trading sideways in September, October appears to show a bit of momentum building back up. Furthermore, after Friday’s close, WTRH stock traded higher during aftermarket trading, reaching a high of $3.35 before all was said and done.

The company, compared to a “mini” Uber Eats (UBER Stock Report) or Grub Hub (GRUB Stock Report), focuses on under-serviced communities by these larger cohorts. Most recently, Waitr announced that it launched tableside service technology for restaurants. Through the scanning of a QR code on a smartphone. The product allows diners to access the menu from the table. They can then place an order, pay, and tip all in the Waitr app without contact. With a broader focus on a contactless world, this adds to the current tech offing of the company. It could be something to take account of as the pandemic continues changing what our “new normal” becomes. Year-to-date, WTRH stock is up 831%.

👆 Sign up now and don’t miss these hot stock picks!

We don’t spam!

Default image
Jake Page
Investor of 4 years and Managing Editor of Money Midnight, a news outlet focused on highly profitable investment ideas and bold underground research.
Articles: 36