Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 6.1% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s share price traded down 6.1% during mid-day trading on Monday . The stock traded as low as $44.17 and last traded at $43.83. Approximately 126,106 shares changed hands during trading, a decline of 64% from the average session volume of 348,975 shares. The stock had previously closed at $46.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen lowered their target price on shares of Kura Sushi USA from $58.00 to $51.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen raised shares of Kura Sushi USA from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. DA Davidson set a $65.00 price objective on shares of Kura Sushi USA in a report on Thursday, July 9th. Citigroup cut their target price on shares of Kura Sushi USA from $64.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Finally, Weiss Ratings downgraded Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.00.

Kura Sushi USA Stock Performance

The company’s 50-day moving average is $51.65 and its 200-day moving average is $60.07. The firm has a market cap of $533.31 million, a price-to-earnings ratio of -243.49 and a beta of 1.33.

Kura Sushi USA (NASDAQ:KRUS) last posted its quarterly earnings data on Tuesday, July 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.08. Kura Sushi USA had a negative net margin of 0.65% and a negative return on equity of 0.18%. The firm had revenue of $85.92 million during the quarter, compared to analysts’ expectations of $86.45 million. On average, analysts predict that Kura Sushi USA, Inc. will post -0.06 EPS for the current year.

Institutional Trading of Kura Sushi USA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Moody National Bank Trust Division raised its position in Kura Sushi USA by 30.1% in the 2nd quarter. Moody National Bank Trust Division now owns 53,463 shares of the company’s stock worth $3,077,000 after purchasing an additional 12,366 shares during the last quarter. Janus Henderson Group PLC bought a new position in Kura Sushi USA in the 1st quarter valued at $205,000. California State Teachers Retirement System increased its stake in shares of Kura Sushi USA by 47.8% in the 1st quarter. California State Teachers Retirement System now owns 9,035 shares of the company’s stock valued at $631,000 after buying an additional 2,921 shares during the period. Quantinno Capital Management LP raised its position in shares of Kura Sushi USA by 14.1% during the first quarter. Quantinno Capital Management LP now owns 7,367 shares of the company’s stock worth $514,000 after acquiring an additional 909 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Kura Sushi USA by 92.1% during the first quarter. Sei Investments Co. now owns 44,162 shares of the company’s stock worth $3,082,000 after acquiring an additional 21,174 shares during the last quarter. Institutional investors and hedge funds 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.