Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 5.4% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 5.4% during trading on Friday . The company traded as low as $76.96 and last traded at $76.83. Approximately 95,489 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 187,373 shares. The stock had previously closed at $81.23.

Analysts Set New Price Targets

KRUS has been the topic of a number of recent analyst reports. Lake Street Capital increased their price objective on shares of Kura Sushi USA from $78.00 to $103.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Kura Sushi USA from $63.00 to $98.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays increased their price objective on shares of Kura Sushi USA from $70.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Craig Hallum increased their price objective on shares of Kura Sushi USA from $85.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kura Sushi USA currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Kura Sushi USA Stock Performance

The company’s 50-day simple moving average is $93.42 and its 200-day simple moving average is $80.31.

Kura Sushi USA (NASDAQ:KRUS) last issued its quarterly earnings data on Tuesday, January 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities analysts anticipate that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Kura Sushi USA

In related news, Director Seitaro Ishii sold 6,918 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $83.03, for a total value of $574,401.54. Following the completion of the sale, the director now owns 1,313 shares in the company, valued at $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 available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Kura Sushi USA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in Kura Sushi USA by 237.9% during the 3rd quarter. Quest Partners LLC now owns 669 shares of the company’s stock valued at $54,000 after acquiring an additional 471 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Kura Sushi USA during the 3rd quarter valued at about $237,000. Jennison Associates LLC increased its holdings in Kura Sushi USA by 32.2% during the 3rd quarter. Jennison Associates LLC now owns 5,306 shares of the company’s stock valued at $427,000 after acquiring an additional 1,292 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 acquiring an additional 1,644 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in Kura Sushi USA during the 3rd quarter valued at about $790,000. Institutional investors and hedge funds own 65.49% of the company’s stock.

About Kura Sushi USA