Raymond James Financial, Inc. cut shares of Kona Grill, Inc. (NASDAQ:KONA) from an outperform rating to a market perform rating in a research note released on Wednesday, Marketbeat reports.

Other equities analysts also recently issued research reports about the company. Telsey Advisory Group downgraded Kona Grill from an outperform rating to a market perform rating and decreased their target price for the company from $13.00 to $8.00 in a report on Tuesday, May 9th. Zacks Investment Research upgraded Kona Grill from a sell rating to a hold rating in a report on Wednesday, July 12th. ValuEngine downgraded Kona Grill from a sell rating to a strong sell rating in a report on Friday, June 2nd. Finally, Wedbush restated an outperform rating and set a $11.00 target price (up previously from $10.00) on shares of Kona Grill in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $12.00.

Shares of Kona Grill (NASDAQ:KONA) traded up 5.66% during trading on Wednesday, reaching $2.80. 135,378 shares of the company traded hands. The company has a 50-day moving average of $3.90 and a 200-day moving average of $6.99. Kona Grill has a 12 month low of $2.50 and a 12 month high of $14.44. The stock’s market capitalization is $28.27 million.

Kona Grill (NASDAQ:KONA) last announced its earnings results on Monday, May 8th. The restaurant operator reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.11. The business had revenue of $45.20 million for the quarter, compared to the consensus estimate of $46.96 million. Kona Grill had a negative net margin of 13.31% and a negative return on equity of 30.92%. Kona Grill’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) EPS. Analysts forecast that Kona Grill will post ($0.84) earnings per share for the current fiscal year.

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In other Kona Grill news, major shareholder Bbs Capital Fund Lp bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was bought at an average price of $3.65 per share, for a total transaction of $182,500.00. Following the completion of the acquisition, the insider now directly owns 92,602 shares in the company, valued at $337,997.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 100,500 shares of company stock valued at $426,250. 29.20% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP purchased a new position in Kona Grill during the fourth quarter worth about $293,000. Russell Investments Group Ltd. purchased a new position in Kona Grill during the fourth quarter worth about $581,000. Addison Clark Management L.L.C. increased its position in Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock worth $1,360,000 after buying an additional 144,340 shares during the period. Engine Capital Management LLC purchased a new position in Kona Grill during the first quarter worth about $189,000. Finally, Dimensional Fund Advisors LP increased its position in Kona Grill by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 273,144 shares of the restaurant operator’s stock worth $3,428,000 after buying an additional 5,216 shares during the period. Institutional investors and hedge funds own 62.91% of the company’s stock.

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.

Analyst Recommendations for Kona Grill (NASDAQ:KONA)

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