Short Interest in Kura Sushi USA, Inc. (NASDAQ:KRUS) Declines By 6.8%

Posted by Terry King on Dec 2nd, 2024

Kura Sushi USA, Inc. (NASDAQ:KRUS – Get Free Report) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,370,000 shares, a decline of 6.8% from the October 31st total of 1,470,000 shares. Based on an average daily volume of 163,200 shares, the days-to-cover ratio is presently 8.4 days. Currently, 20.8% of the company’s stock are short sold.

Analyst Ratings Changes

A number of brokerages have weighed in on KRUS. Piper Sandler boosted their target price on Kura Sushi USA from $63.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays boosted their target price on Kura Sushi USA from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Craig Hallum boosted 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, Northcoast Research began coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They issued a “buy” rating and a $79.00 target price 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.88.

Read Our Latest Stock Analysis on KRUS

Institutional Trading of Kura Sushi USA

Hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in 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 buying an additional 9,229 shares during the period. State Street Corp raised its holdings in Kura Sushi USA by 0.8% during the 3rd quarter. State Street Corp now owns 128,068 shares of the company’s stock valued at $10,317,000 after buying an additional 1,016 shares during the period. Portolan Capital Management LLC raised its holdings in Kura Sushi USA by 15.3% during the 3rd quarter. Portolan Capital Management LLC now owns 216,530 shares of the company’s stock valued at $17,444,000 after buying an additional 28,655 shares during the period. Janus Henderson Group PLC purchased a new stake in Kura Sushi USA during the 3rd quarter valued at $237,000. Finally, Fred Alger Management LLC raised its holdings in 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 hedge funds and other institutional investors.

Kura Sushi USA Stock Performance

Shares of KRUS traded down $1.95 during mid-day trading on Monday, hitting $104.97. 32,913 shares of the stock were exchanged, compared to its average volume of 162,025. The company has a market cap of $1.25 billion, a PE ratio of -137.08 and a beta of 1.86. Kura Sushi USA has a 52-week low of $48.66 and a 52-week high of $122.81. The firm has a 50-day moving average of $90.96 and a two-hundred day moving average of $78.79.