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

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 6.1% during mid-day trading on Monday . The company traded as low as $74.28 and last traded at $74.46. Approximately 64,010 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 351,957 shares. The stock had previously closed at $79.29.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KRUS shares. Wall Street Zen lowered Kura Sushi USA from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 10th. Benchmark reaffirmed a “buy” rating on shares of Kura Sushi USA in a report on Thursday, January 8th. Loop Capital set a $70.00 price target on shares of Kura Sushi USA in a report on Thursday, January 8th. Lake Street Capital restated a “buy” rating and issued a $70.00 price objective on shares of Kura Sushi USA in a report on Thursday, January 8th. Finally, Piper Sandler lifted their price objective on shares of Kura Sushi USA from $59.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.91.

Kura Sushi USA Price Performance

The stock has a 50-day moving average price of $61.70 and a 200 day moving average price of $65.73. The firm has a market cap of $930.12 million, a price-to-earnings ratio of -232.73 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS) last issued its quarterly earnings data on Wednesday, January 7th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). The firm had revenue of $73.46 million during the quarter, compared to analysts’ expectations of $72.98 million. Kura Sushi USA had a negative net margin of 1.37% and a negative return on equity of 0.63%. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, equities research analysts predict that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at Kura Sushi USA

In other news, insider Hajime Uba sold 9,874 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $72.93, for a total value of $720,110.82. Following the completion of the sale, the insider directly owned 6,026 shares of the company’s stock, valued at approximately $439,476.18. This represents a 62.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.28% of the company’s stock.

Institutional Trading of Kura Sushi USA

A number of hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP purchased a new position in shares of Kura Sushi USA in the 3rd quarter valued at approximately $34,586,000. Granahan Investment Management LLC lifted its holdings in shares of Kura Sushi USA by 125.4% during the third 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. Hood River Capital Management LLC purchased a new position in Kura Sushi USA in the 2nd quarter valued at $31,561,000. Woodline Partners LP increased its stake in Kura Sushi USA by 270.3% in the 3rd quarter. Woodline Partners LP now owns 292,014 shares of the company’s stock valued at $17,349,000 after buying an additional 213,158 shares during the period. Finally, Marshall Wace LLP increased its stake in Kura Sushi USA by 71.1% in the 2nd quarter. Marshall Wace LLP now owns 286,075 shares of the company’s stock valued at $24,625,000 after buying an additional 118,906 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.

About Kura Sushi USA

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.