Kura Sushi USA, Inc. (NASDAQ:KRUS) Short Interest Up 12.0% in August

Kura Sushi USA, Inc. (NASDAQ:KRUS) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,960,000 shares, an increase of 12.0% from the August 15th total of 1,750,000 shares. Approximately 32.1% of the company’s shares are sold short. Based on an average trading volume of 230,100 shares, the days-to-cover ratio is presently 8.5 days.

Institutional Investors Weigh In On Kura Sushi USA

Several institutional investors have recently added to or reduced their stakes in KRUS. Comerica Bank lifted its position in shares of Kura Sushi USA by 58.6% during the 1st quarter. Comerica Bank now owns 268 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Kura Sushi USA by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock valued at $378,000 after acquiring an additional 232 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Kura Sushi USA by 4.5% during the second quarter. Rhumbline Advisers now owns 8,172 shares of the company’s stock worth $516,000 after purchasing an additional 350 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Kura Sushi USA during the first quarter worth about $46,000. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Kura Sushi USA by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 28,751 shares of the company’s stock valued at $3,311,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Price Performance

Shares of NASDAQ KRUS opened at $81.85 on Wednesday. Kura Sushi USA has a 1 year low of $48.66 and a 1 year high of $122.81. The company has a market capitalization of $919.26 million, a price-to-earnings ratio of -1,169.29 and a beta of 1.87. The business has a 50-day moving average of $60.48 and a two-hundred day moving average of $84.95.

Analyst Ratings Changes

A number of brokerages recently weighed in on KRUS. Lake Street Capital dropped their price objective on shares of Kura Sushi USA from $72.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. Barclays cut their price objective on Kura Sushi USA from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Kura Sushi USA in a research note on Wednesday, July 10th. Northcoast Research assumed coverage on Kura Sushi USA in a research note on Tuesday, September 10th. They set a “buy” rating and a $79.00 target price for the company. Finally, Citigroup cut their price target on Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.38.

About Kura Sushi USA