Kura Sushi USA (NASDAQ:KRUS) Trading Up 5.6% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price was up 5.6% during mid-day trading on Tuesday . The stock traded as high as $53.12 and last traded at $53.1290. Approximately 256,747 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 337,166 shares. The stock had previously closed at $50.31.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KRUS shares. Weiss Ratings lowered shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Kura Sushi USA from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Citigroup raised their price objective on Kura Sushi USA from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. DA Davidson reaffirmed a “buy” rating and set a $90.00 price objective on shares of Kura Sushi USA in a research note on Monday, April 6th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Kura Sushi USA in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.92.

Kura Sushi USA Stock Up 6.6%

The stock’s fifty day moving average price is $54.74 and its two-hundred day moving average price is $60.15. The company has a market capitalization of $651.54 million, a PE ratio of -335.16 and a beta of 1.32.

Institutional Trading of Kura Sushi USA

Several institutional investors and hedge funds have recently bought and sold shares of KRUS. Divisadero Street Capital Management LP purchased a new stake in Kura Sushi USA in the third quarter worth about $34,586,000. Granahan Investment Management LLC lifted its holdings in Kura Sushi USA by 125.4% in the third quarter. Granahan Investment Management LLC now owns 671,012 shares of the company’s stock worth $39,865,000 after buying an additional 373,354 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Kura Sushi USA in the fourth quarter worth about $19,194,000. Stephens Inc. AR lifted its holdings in Kura Sushi USA by 31.9% in the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock worth $77,276,000 after buying an additional 267,955 shares during the period. Finally, Woodline Partners LP lifted its holdings in Kura Sushi USA by 270.3% in the third quarter. Woodline Partners LP now owns 292,014 shares of the company’s stock worth $17,349,000 after buying an additional 213,158 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Kura Sushi USA Company Profile

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.