Kura Sushi USA (NASDAQ:KRUS) Trading 6% Higher – Time to Buy?

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price was up 6% on Tuesday . The stock traded as high as $64.04 and last traded at $63.79. Approximately 70,499 shares were traded during trading, a decline of 75% from the average daily volume of 285,645 shares. The stock had previously closed at $60.19.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KRUS. Piper Sandler raised their price target on shares of Kura Sushi USA from $59.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Benchmark restated a “buy” rating on shares of Kura Sushi USA in a research note on Thursday, January 8th. Barclays reduced their target price on shares of Kura Sushi USA from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 7th. DA Davidson started coverage on Kura Sushi USA in a research note on Friday, March 6th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Loop Capital set a $70.00 target price on Kura Sushi USA in a research report on Thursday, January 8th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kura Sushi USA currently has a consensus rating of “Hold” and a consensus price target of $78.00.

Kura Sushi USA Price Performance

The company has a market cap of $764.81 million, a PE ratio of -191.36 and a beta of 1.68. The business has a fifty day simple moving average of $68.15 and a two-hundred day simple moving average of $61.98.

Kura Sushi USA (NASDAQ:KRUS) last released its quarterly earnings results on Wednesday, January 7th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Kura Sushi USA had a negative return on equity of 0.63% and a negative net margin of 1.37%.The company had revenue of $73.46 million during the quarter, compared to the consensus estimate of $72.98 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, equities research analysts predict that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Kura Sushi USA news, insider Hajime Uba sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $72.93, for a total value of $720,110.82. Following the completion of the sale, the insider directly owned 6,026 shares in the company, valued at $439,476.18. This trade represents a 62.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.28% of the stock is owned by insiders.

Institutional Trading of Kura Sushi USA

Several hedge funds and other institutional investors have recently made changes to their positions in KRUS. Divisadero Street Capital Management LP purchased a new stake in Kura Sushi USA in the third quarter valued at about $34,586,000. Granahan Investment Management LLC raised its position in shares of Kura Sushi USA by 125.4% in the 3rd quarter. Granahan Investment Management LLC now owns 671,012 shares of the company’s stock valued at $39,865,000 after purchasing an additional 373,354 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Kura Sushi USA in the 4th quarter worth approximately $19,194,000. Hood River Capital Management LLC purchased a new stake in Kura Sushi USA during the 2nd quarter worth approximately $31,561,000. Finally, Woodline Partners LP grew its position in Kura Sushi USA by 270.3% during the 3rd quarter. Woodline Partners LP now owns 292,014 shares of the company’s stock worth $17,349,000 after purchasing an additional 213,158 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.