Kona Grill’s (KONA) “Outperform” Rating Reiterated at Wedbush
Wedbush reiterated their outperform rating on shares of Kona Grill Inc. (NASDAQ:KONA) in a research report report published on Saturday. The brokerage currently has a $18.00 price objective on the stock.
KONA has been the subject of several other research reports. Zacks Investment Research downgraded Kona Grill from a hold rating to a sell rating in a research report on Tuesday, October 4th. Oppenheimer Holdings Inc. cut their price objective on Kona Grill from $20.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, July 28th. Feltl & Co. upgraded Kona Grill from a buy rating to a strong-buy rating in a research report on Thursday, July 28th. Finally, Roth Capital started coverage on Kona Grill in a research report on Thursday, July 7th. They issued a buy rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Kona Grill has an average rating of Buy and a consensus price target of $17.40.
Shares of Kona Grill (NASDAQ:KONA) traded down 0.97% during midday trading on Friday, hitting $11.25. The stock had a trading volume of 78,734 shares. Kona Grill has a one year low of $9.90 and a one year high of $17.75. The firm’s 50-day moving average price is $13.04 and its 200-day moving average price is $12.47. The firm’s market capitalization is $117.90 million.
Kona Grill (NASDAQ:KONA) last posted its earnings results on Wednesday, July 27th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $43.30 million for the quarter, compared to the consensus estimate of $45.41 million. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. Kona Grill’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. On average, equities analysts predict that Kona Grill will post ($0.55) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Kona Grill by 14.5% in the first quarter. Geode Capital Management LLC now owns 65,140 shares of the company’s stock valued at $843,000 after buying an additional 8,254 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Kona Grill by 13.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 410,040 shares of the company’s stock valued at $4,396,000 after buying an additional 50,000 shares during the period. State Street Corp boosted its stake in Kona Grill by 26.7% in the first quarter. State Street Corp now owns 107,318 shares of the company’s stock valued at $1,389,000 after buying an additional 22,594 shares during the period. Diker Management LLC bought a new stake in shares of Kona Grill during the first quarter worth approximately $480,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Kona Grill during the second quarter worth approximately $1,327,000. 80.89% of the stock is owned by institutional investors.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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