Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 6.1% – Here’s Why

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) were down 6.1% on Monday . The stock traded as low as $74.28 and last traded at $74.46. Approximately 64,010 shares traded hands during trading, a decline of 82% from the average daily volume of 351,957 shares. The stock had previously closed at $79.29.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KRUS shares. TD Cowen decreased their target price on Kura Sushi USA from $79.00 to $59.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Sanford C. Bernstein set a $67.00 target price on shares of Kura Sushi USA in a research report on Wednesday, October 22nd. Wall Street Zen lowered shares of Kura Sushi USA from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 10th. Citigroup reiterated a “neutral” rating on shares of Kura Sushi USA in a report on Thursday, January 8th. Finally, Lake Street Capital reiterated a “buy” rating and set a $70.00 price objective on shares of Kura Sushi USA in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.91.

Kura Sushi USA Stock Performance

The firm’s 50-day moving average price is $61.70 and its two-hundred day moving average price is $65.73. The stock has a market cap of $930.12 million, a price-to-earnings ratio of -232.73 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS) last issued its earnings results on Wednesday, January 7th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $73.46 million for the quarter, compared to analysts’ expectations of $72.98 million. During the same period last year, the firm earned ($0.08) earnings per share. As a group, sell-side analysts expect that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Hajime Uba sold 9,874 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $72.93, for a total value of $720,110.82. Following the transaction, the insider owned 6,026 shares of the company’s stock, valued at $439,476.18. This represents a 62.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP purchased a new position in shares of Kura Sushi USA in the third quarter valued at approximately $34,586,000. Granahan Investment Management LLC boosted its position in 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 buying an additional 373,354 shares during the period. Hood River Capital Management LLC purchased a new position in Kura Sushi USA in the 2nd quarter valued at approximately $31,561,000. Woodline Partners LP grew its stake in shares of Kura Sushi USA by 270.3% in the third quarter. Woodline Partners LP now owns 292,014 shares of the company’s stock worth $17,349,000 after acquiring an additional 213,158 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Kura Sushi USA by 71.1% during the second quarter. Marshall Wace LLP now owns 286,075 shares of the company’s stock worth $24,625,000 after acquiring an additional 118,906 shares during the period. Institutional investors and hedge funds 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.