Kura Sushi USA (NASDAQ:KRUS) Shares Down 6.7% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s share price fell 6.7% on Friday . The stock traded as low as $58.76 and last traded at $59.72. 79,302 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 291,093 shares. The stock had previously closed at $64.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KRUS. Royal Bank Of Canada set a $85.00 price target on shares of Kura Sushi USA in a report on Tuesday, January 20th. Wall Street Zen downgraded Kura Sushi USA from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 10th. Benchmark reaffirmed a “buy” rating on shares of Kura Sushi USA in a research report on Thursday, January 8th. Loop Capital set a $70.00 price target on Kura Sushi USA in a report on Thursday, January 8th. Finally, TD Cowen reduced their price objective on shares of Kura Sushi USA from $79.00 to $59.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kura Sushi USA has an average rating of “Hold” and a consensus price target of $78.00.

Kura Sushi USA Stock Performance

The business’s 50 day moving average price is $68.10 and its 200-day moving average price is $64.16. The company has a market cap of $696.69 million, a price-to-earnings ratio of -174.33 and a beta of 1.68.

Kura Sushi USA (NASDAQ:KRUS) last posted its earnings results 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 business had revenue of $73.46 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts expect that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Kura Sushi USA

In related news, insider Hajime Uba sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $72.93, for a total transaction of $720,110.82. Following the completion of the transaction, the insider owned 6,026 shares in the company, valued at $439,476.18. This trade represents a 62.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KRUS. Raymond James Financial Inc. bought a new position in shares of Kura Sushi USA during the second quarter valued at $29,000. Key Financial Inc lifted its holdings in Kura Sushi USA by 720.0% during the 4th quarter. Key Financial Inc now owns 615 shares of the company’s stock valued at $32,000 after purchasing an additional 540 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Kura Sushi USA in the fourth quarter valued at about $36,000. Caitong International Asset Management Co. Ltd grew its stake in Kura Sushi USA by 681.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock worth $50,000 after buying an additional 736 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Kura Sushi USA by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock worth $79,000 after buying an additional 646 shares in the last quarter. 65.49% of the stock is currently 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.