Kura Sushi USA (NASDAQ:KRUS) Stock Price Up 7.2% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares rose 7.2% on Tuesday . The stock traded as high as $57.93 and last traded at $57.9140. Approximately 208,233 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 276,710 shares. The stock had previously closed at $54.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Roth Capital reissued a “buy” rating and issued a $106.00 price objective (up from $89.00) on shares of Kura Sushi USA in a research note on Wednesday, July 9th. Wall Street Zen lowered Kura Sushi USA from a “hold” rating to a “sell” rating in a research report on Saturday. TD Securities reissued a “hold” rating and set a $79.00 price objective on shares of Kura Sushi USA in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kura Sushi USA in a research note on Wednesday, October 8th. Finally, Benchmark dropped their target price on Kura Sushi USA from $102.00 to $85.00 and set a “buy” rating for the company in a report on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.80.

Kura Sushi USA Stock Performance

The company has a market cap of $693.24 million, a P/E ratio of -71.68 and a beta of 1.75. The business’s fifty day moving average is $68.57 and its two-hundred day moving average is $72.77.

Kura Sushi USA (NASDAQ:KRUS) last issued its earnings results on Monday, March 13th. The company reported ($0.13) EPS for the quarter. Kura Sushi USA had a negative return on equity of 0.49% and a negative net margin of 3.48%.The company had revenue of $29.83 million for the quarter. Analysts expect that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Kura Sushi USA

Several hedge funds have recently made changes to their positions in KRUS. Bank of New York Mellon Corp grew its position in shares of Kura Sushi USA by 10.2% during the 1st quarter. Bank of New York Mellon Corp now owns 15,043 shares of the company’s stock worth $770,000 after buying an additional 1,397 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Kura Sushi USA by 25.0% in the first quarter. SBI Securities Co. Ltd. now owns 10,352 shares of the company’s stock worth $530,000 after acquiring an additional 2,071 shares during the period. Jennison Associates LLC grew its holdings in Kura Sushi USA by 26.6% during the 1st quarter. Jennison Associates LLC now owns 6,709 shares of the company’s stock worth $344,000 after acquiring an additional 1,411 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Kura Sushi USA during the 1st quarter valued at about $248,000. Finally, Royce & Associates LP increased its position in Kura Sushi USA by 52.2% during the 1st quarter. Royce & Associates LP now owns 35,009 shares of the company’s stock valued at $1,792,000 after purchasing an additional 12,009 shares during the period. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Kura Sushi USA Company Profile