Kura Sushi USA (NASDAQ:KRUS) Trading Up 7.4% – Here’s Why

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) were up 7.4% on Monday . The stock traded as high as $59.34 and last traded at $59.22. Approximately 18,501 shares were traded during trading, a decline of 90% from the average daily volume of 184,491 shares. The stock had previously closed at $55.13.

Wall Street Analyst Weigh In

KRUS has been the subject of several recent research reports. TD Securities started coverage on shares of Kura Sushi USA in a research note on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price objective for the company. TD Cowen initiated coverage on shares of Kura Sushi USA in a report on Tuesday, February 25th. They set a “hold” rating and a $72.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. Finally, Lake Street Capital upgraded shares of Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kura Sushi USA currently has an average rating of “Moderate Buy” and an average target price of $86.20.

Kura Sushi USA Trading Up 6.7 %

The firm has a market cap of $709.48 million, a price-to-earnings ratio of -86.47 and a beta of 1.82. The firm has a 50-day moving average of $69.52 and a two-hundred day moving average of $83.08.

Kura Sushi USA (NASDAQ:KRUS) last posted 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 return on equity of 0.50% and a negative net margin of 3.08%. As a group, equities analysts anticipate that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

Insider Activity at Kura Sushi USA

In other Kura Sushi USA news, Director Seitaro Ishii sold 6,918 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $83.03, for a total transaction of $574,401.54. Following the sale, the director now owns 1,313 shares of the company’s stock, valued at approximately $109,018.39. The trade was a 84.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Kura Sushi USA

A number of hedge funds and other institutional investors have recently modified their holdings of KRUS. FMR LLC lifted its holdings in shares of Kura Sushi USA by 45.7% during the third quarter. FMR LLC now owns 1,246,359 shares of the company’s stock worth $100,407,000 after purchasing an additional 390,688 shares during the period. 12 West Capital Management LP lifted its holdings in shares of Kura Sushi USA by 12.8% during the fourth quarter. 12 West Capital Management LP now owns 556,415 shares of the company’s stock worth $50,400,000 after purchasing an additional 63,000 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Kura Sushi USA by 24.5% during the third quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock worth $40,731,000 after purchasing an additional 99,515 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of Kura Sushi USA by 72.4% during the fourth quarter. Portolan Capital Management LLC now owns 373,253 shares of the company’s stock worth $33,809,000 after purchasing an additional 156,723 shares during the period. Finally, Granahan Investment Management LLC lifted its holdings in Kura Sushi USA by 16.4% in the fourth quarter. Granahan Investment Management LLC now owns 367,029 shares of the company’s stock valued at $33,245,000 after buying an additional 51,599 shares during the period. Institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA