Kura Sushi USA (NASDAQ:KRUS) Trading Down 7.4% – Here’s Why

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares were down 7.4% during mid-day trading on Monday . The stock traded as low as $52.09 and last traded at $52.01. Approximately 185,420 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 311,652 shares. The stock had previously closed at $56.19.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KRUS shares. Zacks Research cut shares of Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Barclays raised their target price on shares of Kura Sushi USA from $60.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Kura Sushi USA from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Lake Street Capital reissued a “buy” rating on shares of Kura Sushi USA in a research report on Wednesday, April 8th. Finally, Weiss Ratings cut shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.92.

Kura Sushi USA Stock Down 7.0%

The firm’s 50-day moving average price is $58.70 and its 200 day moving average price is $60.08. The firm has a market cap of $634.84 million, a P/E ratio of -325.50 and a beta of 1.32.

Hedge Funds Weigh In On Kura Sushi USA

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in Kura Sushi USA by 4.2% in the 4th quarter. Deutsche Bank AG now owns 5,401 shares of the company’s stock valued at $283,000 after acquiring an additional 218 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Kura Sushi USA by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 953 shares of the company’s stock valued at $82,000 after acquiring an additional 284 shares during the last quarter. Bank of America Corp DE lifted its holdings in Kura Sushi USA by 5.4% in the 3rd quarter. Bank of America Corp DE now owns 5,623 shares of the company’s stock valued at $334,000 after acquiring an additional 287 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Kura Sushi USA in the 2nd quarter valued at about $29,000. Finally, Key Financial Inc lifted its holdings in Kura Sushi USA by 720.0% in the 4th quarter. Key Financial Inc now owns 615 shares of the company’s stock valued at $32,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Company Profile

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.