Kura Sushi USA, Inc. (NASDAQ:KRUS) Short Interest Update

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

Kura Sushi USA Stock Performance

Shares of NASDAQ:KRUS traded down $0.45 on Monday, reaching $77.33. The company’s stock had a trading volume of 107,772 shares, compared to its average volume of 164,992. The company has a 50-day simple moving average of $59.71 and a 200 day simple moving average of $85.17. Kura Sushi USA has a 52-week low of $48.66 and a 52-week high of $122.81. The company has a market cap of $868.49 million, a P/E ratio of -1,111.57 and a beta of 1.87.

Analyst Ratings Changes

Several brokerages recently issued reports on KRUS. Piper Sandler decreased their target price on Kura Sushi USA from $89.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Citigroup lowered their target price on shares of Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Kura Sushi USA in a research note on Wednesday, July 10th. Lake Street Capital decreased their price target on shares of Kura Sushi USA from $72.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. Finally, Northcoast Research assumed coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They set a “buy” rating and a $79.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of Kura Sushi USA by 58.6% in the 1st quarter. Comerica Bank now owns 268 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Kura Sushi USA during the 1st quarter valued at $46,000. Quest Partners LLC purchased a new stake in Kura Sushi USA during the 4th quarter valued at $36,000. RiverPark Advisors LLC lifted its position in Kura Sushi USA by 293.5% in the first quarter. RiverPark Advisors LLC now owns 1,452 shares of the company’s stock worth $167,000 after buying an additional 1,083 shares during the last quarter. Finally, Red Door Wealth Management LLC purchased a new position in Kura Sushi USA during the first quarter worth $237,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA