Kura Sushi USA (NASDAQ:KRUS) Trading Down 8.7% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares dropped 8.7% during mid-day trading on Wednesday . The stock traded as low as $92.37 and last traded at $93.34. Approximately 93,232 shares were traded during trading, a decline of 42% from the average daily volume of 159,919 shares. The stock had previously closed at $102.18.

Analysts Set New Price Targets

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

Kura Sushi USA Stock Performance

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -112.27 and a beta of 1.84. The stock’s fifty day simple moving average is $96.63 and its two-hundred day simple moving average is $79.49.

Kura Sushi USA (NASDAQ:KRUS) last issued its quarterly earnings results on Tuesday, January 7th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative net margin of 3.70% and a negative return on equity of 1.22%. On average, equities analysts anticipate that Kura Sushi USA, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Kura Sushi USA

A number of institutional investors and hedge funds have recently bought and sold shares of KRUS. Rhumbline Advisers lifted its holdings in Kura Sushi USA by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 8,172 shares of the company’s stock valued at $516,000 after acquiring an additional 350 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kura Sushi USA by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 183,766 shares of the company’s stock valued at $11,602,000 after buying an additional 8,146 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Kura Sushi USA in the 2nd quarter valued at about $1,155,000. XTX Topco Ltd acquired a new position in shares of Kura Sushi USA in the 2nd quarter valued at about $521,000. Finally, Rheos Capital Works Inc. increased its holdings in shares of Kura Sushi USA by 6.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock valued at $16,434,000 after purchasing an additional 12,000 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.

Kura Sushi USA Company Profile