Kura Sushi USA, Inc. (NASDAQ:KRUS) Sees Significant Drop in Short Interest

Kura Sushi USA, Inc. (NASDAQ:KRUS) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,750,000 shares, a drop of 11.2% from the September 15th total of 1,970,000 shares. Based on an average daily volume of 194,600 shares, the days-to-cover ratio is currently 9.0 days. Approximately 28.7% of the company’s shares are sold short.

Kura Sushi USA Trading Up 0.0 %

NASDAQ:KRUS opened at $84.01 on Wednesday. The stock has a fifty day moving average price of $71.81 and a 200 day moving average price of $81.87. Kura Sushi USA has a 12-month low of $48.66 and a 12-month high of $122.81. The firm has a market cap of $943.52 million, a PE ratio of -1,200.14 and a beta of 1.89.

Hedge Funds Weigh In On Kura Sushi USA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its holdings in Kura Sushi USA by 58.6% in the first quarter. Comerica Bank now owns 268 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Kura Sushi USA by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock valued at $378,000 after purchasing an additional 232 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Kura Sushi USA by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 8,172 shares of the company’s stock valued at $516,000 after purchasing an additional 350 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kura Sushi USA during the 1st quarter worth $46,000. Finally, Essex Investment Management Co. LLC lifted its position in shares of Kura Sushi USA by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 28,751 shares of the company’s stock worth $3,311,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KRUS. Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price (down previously from $90.00) on shares of Kura Sushi USA in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on shares of Kura Sushi USA from $89.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Craig Hallum cut their target price on Kura Sushi USA from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Citigroup lowered their price target on Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Lake Street Capital cut their price objective on Kura Sushi USA from $72.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.38.

Kura Sushi USA Company Profile