Kura Sushi USA (NASDAQ:KRUS) Trading Up 10% – Here’s What Happened

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS) shot up 10% during trading on Wednesday . The stock traded as high as $51.60 and last traded at $51.7770. Approximately 242,071 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 340,865 shares. The stock had previously closed at $47.06.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Kura Sushi USA from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. TD Cowen reiterated a “hold” rating and issued a $58.00 price target on shares of Kura Sushi USA in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Kura Sushi USA from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. DA Davidson reaffirmed a “buy” rating and issued a $90.00 target price on shares of Kura Sushi USA in a report on Monday, April 6th. Finally, Weiss Ratings downgraded Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kura Sushi USA currently has an average rating of “Hold” and a consensus price target of $76.92.

Kura Sushi USA Stock Up 10.0%

The business’s fifty day moving average is $52.91 and its two-hundred day moving average is $60.13. The stock has a market capitalization of $628.82 million, a PE ratio of -322.69 and a beta of 1.32.

Institutional Trading of Kura Sushi USA

Large investors have recently made changes to their positions in the business. Divisadero Street Capital Management LP purchased a new stake in shares of Kura Sushi USA during the 3rd quarter valued at about $34,586,000. Granahan Investment Management LLC grew its position in Kura Sushi USA by 125.4% in the third quarter. Granahan Investment Management LLC now owns 671,012 shares of the company’s stock worth $39,865,000 after acquiring an additional 373,354 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Kura Sushi USA during the fourth quarter worth approximately $19,194,000. Stephens Inc. AR increased its stake in Kura Sushi USA by 31.9% during the first quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock worth $77,276,000 after acquiring an additional 267,955 shares during the last quarter. Finally, Woodline Partners LP raised its position in Kura Sushi USA by 270.3% during the third quarter. Woodline Partners LP now owns 292,014 shares of the company’s stock valued at $17,349,000 after purchasing an additional 213,158 shares during the period. 65.49% of the stock is currently owned by institutional investors.

Kura Sushi USA Company Profile

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.