Kura Sushi USA (NASDAQ:KRUS) Shares Down 3% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares fell 3% during mid-day trading on Wednesday . The company traded as low as $81.53 and last traded at $81.53. 27,430 shares changed hands during trading, a decline of 83% from the average session volume of 158,487 shares. The stock had previously closed at $84.01.

Analysts Set New Price Targets

KRUS has been the topic of several research reports. Citigroup lowered their price target on shares of Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays dropped their price target on Kura Sushi USA from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Northcoast Research initiated coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They issued a “buy” rating and a $79.00 price objective on the stock. Craig Hallum dropped their price objective on Kura Sushi USA from $120.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler cut their target price on shares of Kura Sushi USA from $89.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.38.

Kura Sushi USA Stock Performance

The company’s fifty day moving average price is $71.81 and its two-hundred day moving average price is $81.87. The firm has a market capitalization of $941.05 million, a PE ratio of -1,200.14 and a beta of 1.89.

Hedge Funds Weigh In On Kura Sushi USA

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Kura Sushi USA by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 327,315 shares of the company’s stock worth $37,694,000 after buying an additional 5,942 shares during the period. Rheos Capital Works Inc. raised its holdings in Kura Sushi USA by 6.3% in the third quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock valued at $16,434,000 after buying an additional 12,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Kura Sushi USA by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 183,766 shares of the company’s stock valued at $11,602,000 after buying an additional 8,146 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Kura Sushi USA by 28.1% during the first quarter. Lord Abbett & CO. LLC now owns 103,916 shares of the company’s stock worth $11,967,000 after buying an additional 22,823 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Kura Sushi USA by 42.6% in the first quarter. Russell Investments Group Ltd. now owns 103,290 shares of the company’s stock worth $11,895,000 after acquiring an additional 30,836 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Kura Sushi USA Company Profile