Kura Sushi USA (NASDAQ:KRUS) Trading Down 6.1% After Analyst Downgrade

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 6.1% on Wednesday after Citigroup lowered their price target on the stock from $116.00 to $71.00. Citigroup currently has a neutral rating on the stock. Kura Sushi USA traded as low as $55.13 and last traded at $55.00. Approximately 33,554 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 185,904 shares. The stock had previously closed at $58.58.

Several other equities research analysts have also issued reports on the stock. Benchmark dropped their target price on shares of Kura Sushi USA from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday. TD Securities began coverage on shares of Kura Sushi USA in a research report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 target price for the company. William Blair restated an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. TD Cowen started coverage on Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price objective for the company. Finally, Lake Street Capital raised Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Insider Buying and Selling at Kura Sushi USA

In other news, Director Seitaro Ishii sold 6,918 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $83.03, for a total value of $574,401.54. Following the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Kura Sushi USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRUS. FMR LLC increased its position in shares of Kura Sushi USA by 45.7% in the third quarter. FMR LLC now owns 1,246,359 shares of the company’s stock valued at $100,407,000 after acquiring an additional 390,688 shares during the period. 12 West Capital Management LP grew its stake in shares of Kura Sushi USA by 12.8% in the fourth quarter. 12 West Capital Management LP now owns 556,415 shares of the company’s stock worth $50,400,000 after purchasing an additional 63,000 shares during the last quarter. Fred Alger Management LLC increased its holdings in Kura Sushi USA by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock valued at $40,731,000 after purchasing an additional 99,515 shares during the period. Portolan Capital Management LLC raised its position in Kura Sushi USA by 72.4% during the 4th quarter. Portolan Capital Management LLC now owns 373,253 shares of the company’s stock valued at $33,809,000 after purchasing an additional 156,723 shares during the last quarter. Finally, Granahan Investment Management LLC lifted its holdings in Kura Sushi USA by 16.4% in the 4th quarter. Granahan Investment Management LLC now owns 367,029 shares of the company’s stock worth $33,245,000 after buying an additional 51,599 shares during the period. 65.49% of the stock is currently owned by institutional investors.

Kura Sushi USA Trading Down 7.1 %

The firm has a market cap of $656.51 million, a PE ratio of -80.01 and a beta of 1.82. The firm has a fifty day simple moving average of $68.01 and a two-hundred day simple moving average of $82.85.

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

About Kura Sushi USA