Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 5.4% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares traded down 5.4% during mid-day trading on Friday . The stock traded as low as $76.96 and last traded at $76.83. 95,489 shares changed hands during trading, a decline of 49% from the average session volume of 187,373 shares. The stock had previously closed at $81.23.

Wall Street Analysts Forecast Growth

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

Kura Sushi USA Price Performance

The stock’s 50 day simple moving average is $93.68 and its two-hundred day simple moving average is $80.21. The firm has a market cap of $922.51 million, a P/E ratio of -112.40 and a beta of 1.84.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings data on Tuesday, January 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. Equities research analysts anticipate that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Kura Sushi USA news, Director Seitaro Ishii sold 6,918 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $83.03, for a total transaction of $574,401.54. Following the sale, the director now directly owns 1,313 shares in the company, valued at approximately $109,018.39. This trade represents a 84.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KRUS. Barclays PLC boosted its holdings in shares of Kura Sushi USA by 438.6% during the 3rd 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. purchased a new stake in Kura Sushi USA in the third quarter worth approximately $2,609,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kura Sushi USA by 33.4% in 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 worth $529,000 after purchasing an additional 1,644 shares during the period. Rheos Capital Works Inc. grew its position in Kura Sushi USA by 6.3% in 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 lifted its holdings in shares of Kura Sushi USA by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock valued at $40,731,000 after buying an additional 99,515 shares during the period. 65.49% of the stock is owned by institutional investors.

About Kura Sushi USA