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

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 research report on Thursday, November 7th. Barclays boosted their target price on shares of Kura Sushi USA from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Craig Hallum boosted their target price on shares of Kura Sushi USA from $85.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Northcoast Research assumed coverage on shares of Kura Sushi USA in a research report on Tuesday, September 10th. They issued a “buy” rating and a $79.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kura Sushi USA presently has an average rating of “Moderate Buy” and an average price target of $84.88.

Kura Sushi USA Price Performance

The stock’s 50 day moving average price is $93.98 and its two-hundred day moving average price is $78.82. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -128.71 and a beta of 1.80.

Institutional Trading of Kura Sushi USA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new position in Kura Sushi USA during the 3rd quarter valued at $2,609,000. Rheos Capital Works Inc. raised its stake in Kura Sushi USA by 6.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock valued at $16,434,000 after purchasing an additional 12,000 shares during the last quarter. Fred Alger Management LLC raised its stake in Kura Sushi USA by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock valued at $40,731,000 after purchasing an additional 99,515 shares during the last quarter. Millrace Asset Group Inc. acquired a new position in Kura Sushi USA during the 3rd quarter valued at $790,000. Finally, Verition Fund Management LLC raised its stake in Kura Sushi USA by 914.2% during the 3rd quarter. Verition Fund Management LLC now owns 51,641 shares of the company’s stock valued at $4,160,000 after purchasing an additional 46,549 shares during the last quarter. 65.49% of the stock is currently owned by institutional investors and hedge funds.

About Kura Sushi USA