Kura Sushi USA (NASDAQ:KRUS) Trading Down 4.4% – Here’s Why

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) fell 4.4% on Monday . The company traded as low as $89.00 and last traded at $89.46. 11,021 shares traded hands during trading, a decline of 93% from the average session volume of 158,693 shares. The stock had previously closed at $93.62.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northcoast Research initiated coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They set a “buy” rating and a $79.00 target price on the stock. Piper Sandler lifted their target price on shares of Kura Sushi USA from $63.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays upped their price objective on Kura Sushi USA from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Craig Hallum increased their target price on shares of Kura Sushi USA from $85.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

Kura Sushi USA Price Performance

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -116.20 and a beta of 1.80. The firm’s 50-day moving average price is $96.74 and its 200-day moving average price is $78.73.

Institutional Investors Weigh In On Kura Sushi USA

Institutional investors and hedge funds have recently modified their holdings of the stock. Landscape Capital Management L.L.C. acquired a new stake in Kura Sushi USA during the 3rd quarter valued at approximately $2,609,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kura Sushi USA by 33.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,572 shares of the company’s stock valued at $529,000 after purchasing an additional 1,644 shares in the last quarter. Rheos Capital Works Inc. raised its holdings in shares of Kura Sushi USA by 6.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock worth $16,434,000 after purchasing an additional 12,000 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Kura Sushi USA by 24.5% during the third 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 last quarter. Finally, Millrace Asset Group Inc. acquired a new position in Kura Sushi USA in the 3rd quarter worth approximately $790,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Company Profile