Kona Grill, Inc. (NASDAQ:KONA) had its price target decreased by Lake Street Capital from $5.00 to $3.50 in a research report report published on Friday morning, MarketBeat Ratings reports. Lake Street Capital currently has a buy rating on the restaurant operator’s stock.
KONA has been the subject of a number of other reports. Zacks Investment Research raised shares of Kona Grill from a sell rating to a hold rating in a research report on Wednesday, October 4th. ValuEngine lowered shares of Kona Grill from a sell rating to a strong sell rating in a research report on Friday, September 1st. Telsey Advisory Group reduced their price target on shares of Kona Grill from $8.00 to $4.00 and set a market perform rating for the company in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of Kona Grill in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Kona Grill has a consensus rating of Hold and an average target price of $6.17.
Shares of Kona Grill (KONA) traded down $0.05 on Friday, hitting $2.00. 106,900 shares of the company’s stock traded hands, compared to its average volume of 146,822. Kona Grill has a one year low of $1.50 and a one year high of $13.50. The company has a quick ratio of 0.42, a current ratio of 0.54 and a debt-to-equity ratio of 2.07.
Kona Grill (NASDAQ:KONA) last announced its earnings results on Thursday, November 9th. The restaurant operator reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Kona Grill had a negative return on equity of 55.38% and a negative net margin of 15.32%. The firm had revenue of $44.40 million during the quarter, compared to analyst estimates of $46.32 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Kona Grill in the second quarter worth approximately $109,000. Goldman Sachs Group Inc. bought a new position in Kona Grill during the second quarter valued at approximately $159,000. KCG Holdings Inc. bought a new position in Kona Grill during the first quarter valued at approximately $200,000. Dimensional Fund Advisors LP raised its position in Kona Grill by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 357,547 shares of the restaurant operator’s stock valued at $1,323,000 after acquiring an additional 33,717 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Kona Grill by 2.7% during the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock valued at $2,703,000 after acquiring an additional 11,100 shares in the last quarter. 48.36% of the stock is owned by institutional investors and hedge funds.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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