Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 5.4% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 5.4% on Monday . The company traded as low as $54.18 and last traded at $54.4870. 28,749 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 343,040 shares. The stock had previously closed at $57.61.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of Kura Sushi USA from $60.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. DA Davidson decreased their price objective on Kura Sushi USA from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings lowered Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Citigroup decreased their target price on shares of Kura Sushi USA from $78.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Finally, TD Cowen reiterated a “hold” rating and set a $58.00 price target on shares of Kura Sushi USA in a research report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.08.

Kura Sushi USA Price Performance

The stock has a market cap of $679.99 million, a price-to-earnings ratio of -345.06 and a beta of 1.33. The company’s 50 day moving average is $52.58 and its 200 day moving average is $60.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR lifted its stake in Kura Sushi USA by 31.9% during the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock valued at $77,276,000 after purchasing an additional 267,955 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of Kura Sushi USA by 17.3% during the fourth quarter. Granahan Investment Management LLC now owns 787,108 shares of the company’s stock worth $41,189,000 after acquiring an additional 116,096 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Kura Sushi USA during the 3rd quarter worth $34,586,000. Balyasny Asset Management L.P. bought a new position in Kura Sushi USA during the fourth quarter valued at about $19,194,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Kura Sushi USA by 17.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company’s stock valued at $29,780,000 after acquiring an additional 51,574 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.

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.