Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 3% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Kura Sushi USA in a research note on Wednesday, July 10th. Craig Hallum lowered their price target on shares of 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. Barclays cut their price objective on shares of Kura Sushi USA from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Lake Street Capital lowered their target price on shares of Kura Sushi USA from $72.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. Finally, Northcoast Research initiated coverage on Kura Sushi USA in a research note on Tuesday, September 10th. They issued a “buy” rating and a $79.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kura Sushi USA has an average rating of “Moderate Buy” and an average price target of $72.38.

Kura Sushi USA Price Performance

The company has a market capitalization of $1.02 billion, a P/E ratio of -1,256.86 and a beta of 1.89. The business’s 50-day moving average price is $73.01 and its two-hundred day moving average price is $81.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank increased its position in shares of Kura Sushi USA by 58.6% during the first quarter. Comerica Bank now owns 268 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Headlands Technologies LLC acquired a new position in Kura Sushi USA in the 1st quarter worth $46,000. RiverPark Advisors LLC increased its holdings in Kura Sushi USA by 293.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,452 shares of the company’s stock worth $167,000 after purchasing an additional 1,083 shares in the last quarter. Red Door Wealth Management LLC acquired a new stake in shares of Kura Sushi USA in the 1st quarter valued at about $237,000. Finally, Virtu Financial LLC acquired a new stake in shares of Kura Sushi USA in the 1st quarter valued at about $370,000. 65.49% of the stock is currently owned by institutional investors.

Kura Sushi USA Company Profile