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

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) traded down 6.1% during trading on Monday . The company traded as low as $44.17 and last traded at $43.83. 126,106 shares were traded during mid-day trading, a decline of 64% from the average session volume of 348,975 shares. The stock had previously closed at $46.69.

Analyst Ratings Changes

KRUS has been the subject of several recent analyst reports. Citigroup cut their price objective on Kura Sushi USA from $64.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Weiss Ratings cut Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Lake Street Capital decreased their target price on shares of Kura Sushi USA from $83.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. TD Cowen lowered their price target on Kura Sushi USA from $58.00 to $51.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Finally, Zacks Research cut shares of Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.00.

Kura Sushi USA Trading Up 2.8%

The stock’s 50 day moving average is $51.28 and its 200-day moving average is $59.97. The company has a market cap of $554.34 million, a P/E ratio of -254.57 and a beta of 1.33.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings results on Tuesday, July 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.08. Kura Sushi USA had a negative net margin of 0.65% and a negative return on equity of 0.18%. The company had revenue of $85.92 million during the quarter, compared to the consensus estimate of $86.45 million. As a group, sell-side analysts forecast that Kura Sushi USA, Inc. will post -0.06 EPS for the current year.

Institutional Investors Weigh In On Kura Sushi USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRUS. Moody National Bank Trust Division boosted its stake in shares of Kura Sushi USA by 20.7% in the 4th quarter. Moody National Bank Trust Division now owns 55,621 shares of the company’s stock worth $2,911,000 after buying an additional 9,542 shares during the last quarter. Meros Investment Management LP purchased a new stake in Kura Sushi USA in the 4th quarter worth approximately $6,607,000. Stephens Inc. AR increased its stake in shares of Kura Sushi USA by 31.9% in the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock worth $77,276,000 after purchasing an additional 267,955 shares in the last quarter. Manatuck Hill Partners LLC purchased a new stake in Kura Sushi USA in the 4th quarter worth $1,308,000. Finally, Granahan Investment Management LLC grew its position in shares of Kura Sushi USA by 17.3% during the fourth quarter. Granahan Investment Management LLC now owns 787,108 shares of the company’s stock worth $41,189,000 after purchasing an additional 116,096 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Company Profile

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.