Kura Sushi USA (NASDAQ:KRUS) Trading Down 6.4% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS) fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $53.50 and last traded at $54.15. 182,333 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 220,343 shares. The stock had previously closed at $57.82.

Analyst Ratings Changes

Several brokerages have recently commented on KRUS. TD Securities started coverage on Kura Sushi USA in a report on Tuesday, February 25th. They set a “hold” rating and a $72.00 price objective for the company. Lake Street Capital upgraded Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Friday, February 21st. TD Cowen initiated coverage on Kura Sushi USA in a research note on Tuesday, February 25th. They set a “hold” rating and a $72.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.20.

Kura Sushi USA Stock Performance

The company has a market cap of $650.00 million, a price-to-earnings ratio of -79.22 and a beta of 1.82. The company’s fifty day moving average is $77.01 and its two-hundred day moving average is $83.89.

Kura Sushi USA (NASDAQ:KRUS) last released its quarterly earnings data on Tuesday, January 7th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative net margin of 3.08% and a negative return on equity of 0.50%. On average, sell-side analysts anticipate that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at Kura Sushi USA

In related news, Director Seitaro Ishii sold 6,918 shares of Kura Sushi USA stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $83.03, for a total transaction of $574,401.54. Following the completion of the transaction, the director now directly owns 1,313 shares in the company, valued at approximately $109,018.39. This trade represents a 84.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Kura Sushi USA

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Kura Sushi USA by 45.7% in the 3rd quarter. FMR LLC now owns 1,246,359 shares of the company’s stock valued at $100,407,000 after purchasing an additional 390,688 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Kura Sushi USA in the fourth quarter worth about $24,063,000. Portolan Capital Management LLC raised its position in shares of Kura Sushi USA by 72.4% in the fourth quarter. Portolan Capital Management LLC now owns 373,253 shares of the company’s stock worth $33,809,000 after acquiring an additional 156,723 shares during the period. Hood River Capital Management LLC boosted its stake in shares of Kura Sushi USA by 109.1% during the 4th quarter. Hood River Capital Management LLC now owns 201,806 shares of the company’s stock worth $18,280,000 after acquiring an additional 105,316 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Kura Sushi USA by 1,334.5% during the 4th quarter. Millennium Management LLC now owns 109,363 shares of the company’s stock valued at $9,906,000 after acquiring an additional 101,739 shares during the period. Institutional investors and hedge funds own 65.49% of the company’s stock.

Kura Sushi USA Company Profile