Kura Sushi USA (NASDAQ:KRUS) Trading Down 7.4% – Here’s Why

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) were down 7.4% during trading on Monday . The company traded as low as $52.09 and last traded at $52.01. Approximately 185,420 shares changed hands during trading, a decline of 41% from the average daily volume of 311,652 shares. The stock had previously closed at $56.19.

Analysts Set New Price Targets

A number of analysts have commented on KRUS shares. TD Cowen reduced their price objective on shares of Kura Sushi USA from $70.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. 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. Lake Street Capital reaffirmed a “buy” rating on shares of Kura Sushi USA in a research note on Wednesday, April 8th. Citigroup upped their price objective on shares of Kura Sushi USA from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings lowered shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.92.

Kura Sushi USA Stock Down 7.0%

The business’s 50-day moving average price is $58.70 and its 200-day moving average price is $60.08. The firm has a market capitalization of $634.84 million, a PE ratio of -325.50 and a beta of 1.32.

Institutional Trading of Kura Sushi USA

A number of hedge funds have recently made changes to their positions in KRUS. Raymond James Financial Inc. purchased a new stake in shares of Kura Sushi USA in the second quarter worth approximately $29,000. Key Financial Inc lifted its position in shares of Kura Sushi USA by 720.0% in the fourth quarter. Key Financial Inc now owns 615 shares of the company’s stock worth $32,000 after purchasing an additional 540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Kura Sushi USA in the fourth quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Kura Sushi USA by 681.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock worth $50,000 after purchasing an additional 736 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Kura Sushi USA by 95.3% in the third quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock worth $79,000 after buying an additional 646 shares during the last quarter. 65.49% of the stock is 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.