Kura Sushi USA (NASDAQ:KRUS) Trading Down 4.8% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 4.8% during trading on Friday . The company traded as low as $78.23 and last traded at $77.16. 40,058 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 184,874 shares. The stock had previously closed at $81.02.

Analyst Ratings Changes

KRUS has been the topic of several research reports. Barclays upped their price objective on shares of Kura Sushi USA from $70.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. William Blair reaffirmed an “outperform” rating on shares of Kura Sushi USA in a research note on Wednesday, January 8th. Piper Sandler raised their price objective on Kura Sushi USA from $63.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum upped their target price on Kura Sushi USA from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Lake Street Capital lifted their price target on shares of Kura Sushi USA from $78.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Kura Sushi USA Trading Down 9.3 %

The business has a 50-day moving average of $94.83 and a 200 day moving average of $79.72. The firm has a market capitalization of $878.56 million, a PE ratio of -108.12 and a beta of 1.84.

Kura Sushi USA (NASDAQ:KRUS) last announced its earnings results on Tuesday, January 7th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.16. Kura Sushi USA had a negative net margin of 3.08% and a negative return on equity of 0.50%. On average, sell-side analysts expect that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Kura Sushi USA

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its position in shares of Kura Sushi USA by 438.6% during the third quarter. Barclays PLC now owns 11,333 shares of the company’s stock valued at $914,000 after acquiring an additional 9,229 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Kura Sushi USA in the 3rd quarter valued at $2,609,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Kura Sushi USA by 33.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,572 shares of the company’s stock valued at $529,000 after purchasing an additional 1,644 shares during the last quarter. Rheos Capital Works Inc. raised its stake in shares of Kura Sushi USA by 6.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock worth $16,434,000 after purchasing an additional 12,000 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in shares of Kura Sushi USA by 24.5% in the 3rd quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock worth $40,731,000 after buying an additional 99,515 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA