Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 6.4% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $53.50 and last traded at $54.15. 182,333 shares traded hands during trading, a decline of 17% from the average session volume of 220,343 shares. The stock had previously closed at $57.82.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KRUS shares. TD Cowen began coverage on shares of Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price target for the company. Lake Street Capital raised shares of Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Friday, February 21st. TD Securities began coverage on shares of Kura Sushi USA in a research report on Tuesday, February 25th. They set a “hold” rating and a $72.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of Kura Sushi USA in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.20.

Kura Sushi USA Trading Down 6.8 %

The company has a fifty day moving average price of $77.01 and a two-hundred day moving average price of $83.89. The firm has a market capitalization of $650.00 million, a price-to-earnings ratio of -79.22 and a beta of 1.82.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings data on Tuesday, January 7th. The company reported ($0.08) EPS for the quarter, topping 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%. As a group, equities research analysts expect that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In related news, Director Seitaro Ishii sold 6,918 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $83.03, for a total transaction of $574,401.54. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Kura Sushi USA

Several institutional investors and hedge funds have recently bought and sold shares of KRUS. Arcadia Investment Management Corp MI purchased a new stake in shares of Kura Sushi USA during the 4th quarter valued at approximately $31,000. Quest Partners LLC increased its stake in Kura Sushi USA by 237.9% during the third quarter. Quest Partners LLC now owns 669 shares of the company’s stock worth $54,000 after acquiring an additional 471 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Kura Sushi USA during the fourth quarter worth $61,000. BNP Paribas Financial Markets purchased a new stake in Kura Sushi USA in the fourth quarter valued at $77,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Kura Sushi USA in the 4th quarter valued at $109,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Kura Sushi USA Company Profile