Kura Sushi USA (NASDAQ:KRUS) Trading Down 6.5% – What’s Next?

Kura Sushi USA, Inc. (NASDAQ:KRUS) dropped 6.5% during trading on Monday . The company traded as low as $99.81 and last traded at $99.81. Approximately 62,682 shares changed hands during trading, a decline of 61% from the average daily volume of 161,115 shares. The stock had previously closed at $106.76.

Analyst Upgrades and Downgrades

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

Kura Sushi USA Trading Down 4.6 %

The firm has a market cap of $1.22 billion, a P/E ratio of -137.74 and a beta of 1.80. The company’s 50-day moving average is $93.10 and its two-hundred day moving average is $78.75.

Institutional Trading of Kura Sushi USA

Several hedge funds have recently added to or reduced their stakes in KRUS. Comerica Bank raised its holdings in shares of Kura Sushi USA by 58.6% in the 1st quarter. Comerica Bank now owns 268 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the period. Quest Partners LLC raised its stake in Kura Sushi USA by 237.9% in 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 during the period. Versor Investments LP bought a new position in Kura Sushi USA during the second quarter worth about $233,000. Janus Henderson Group PLC purchased a new position in shares of Kura Sushi USA in the third quarter worth about $237,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Kura Sushi USA by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock valued at $378,000 after buying an additional 232 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA