Kura Sushi USA (NASDAQ:KRUS) Stock Price Up 10% – Time to Buy?

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price shot up 10% on Wednesday . The stock traded as high as $51.60 and last traded at $51.7770. 242,071 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 340,865 shares. The stock had previously closed at $47.06.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KRUS. Citigroup raised their price objective on shares of Kura Sushi USA from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. 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. Weiss Ratings downgraded shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. DA Davidson restated a “buy” rating and issued a $90.00 price objective on shares of Kura Sushi USA in a research note on Monday, April 6th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $58.00 target price on shares of Kura Sushi USA in a report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.92.

Kura Sushi USA Stock Up 10.0%

The firm has a market cap of $628.82 million, a PE ratio of -322.69 and a beta of 1.32. The firm’s fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $60.13.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KRUS. Royce & Associates LP grew its position in shares of Kura Sushi USA by 60.2% during the third quarter. Royce & Associates LP now owns 82,517 shares of the company’s stock worth $4,902,000 after purchasing an additional 31,005 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in Kura Sushi USA in the 3rd quarter worth approximately $34,586,000. Granahan Investment Management LLC boosted its stake in Kura Sushi USA by 125.4% in the 3rd quarter. Granahan Investment Management LLC now owns 671,012 shares of the company’s stock worth $39,865,000 after purchasing an additional 373,354 shares during the period. Moody National Bank Trust Division boosted its stake in Kura Sushi USA by 20.7% in the 4th quarter. Moody National Bank Trust Division now owns 55,621 shares of the company’s stock worth $2,911,000 after purchasing an additional 9,542 shares during the period. Finally, Stephens Inc. AR grew its holdings in Kura Sushi USA by 15.3% during the 4th quarter. Stephens Inc. AR now owns 839,308 shares of the company’s stock valued at $43,921,000 after buying an additional 111,502 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.