Kura Sushi USA (NASDAQ:KRUS) Shares Down 8.7% – Should You Sell?

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 8.7% during trading on Wednesday . The company traded as low as $92.37 and last traded at $93.34. Approximately 93,232 shares traded hands during trading, a decline of 42% from the average daily volume of 159,919 shares. The stock had previously closed at $102.18.

Analyst Upgrades and Downgrades

KRUS has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of Kura Sushi USA in a research note on Wednesday. Piper Sandler lifted their price target on Kura Sushi USA from $63.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays upped their price objective 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. Lake Street Capital boosted their price target on shares of Kura Sushi USA from $78.00 to $103.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Northcoast Research began coverage on shares of Kura Sushi USA in a research note on Tuesday, September 10th. They issued a “buy” rating and a $79.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Kura Sushi USA Price Performance

The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -118.34 and a beta of 1.84. The firm’s fifty day moving average is $97.00 and its 200 day moving average is $79.34.

Kura Sushi USA (NASDAQ:KRUS) last issued its earnings results on Tuesday, January 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative net margin of 3.70% and a negative return on equity of 1.22%. Equities research analysts forecast that Kura Sushi USA, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Kura Sushi USA by 438.6% in the 3rd quarter. Barclays PLC now owns 11,333 shares of the company’s stock valued at $914,000 after buying an additional 9,229 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Kura Sushi USA in the third quarter valued at approximately $2,609,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kura Sushi USA by 33.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,572 shares of the company’s stock worth $529,000 after acquiring an additional 1,644 shares in the last quarter. Rheos Capital Works Inc. increased its stake in shares of Kura Sushi USA by 6.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock worth $16,434,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in shares of Kura Sushi USA by 24.5% during the 3rd quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock worth $40,731,000 after purchasing an additional 99,515 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

About Kura Sushi USA