Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 7.6% - Here's Why

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) dropped 7.6% during mid-day trading on Thursday . The company traded as low as $87.32 and last traded at $88.55. Approximately 150,104 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 288,801 shares. The stock had previously closed at $95.83.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KRUS shares. Lake Street Capital increased their price objective on shares of Kura Sushi USA from $62.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Roth Capital restated a "buy" rating and set a $106.00 price objective (up previously from $89.00) on shares of Kura Sushi USA in a research note on Wednesday, July 9th. Barclays raised their price target on shares of Kura Sushi USA from $71.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. William Blair reissued an "outperform" rating on shares of Kura Sushi USA in a report on Wednesday, April 9th. Finally, Citigroup raised their price objective on shares of Kura Sushi USA from $85.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kura Sushi USA presently has an average rating of "Moderate Buy" and a consensus target price of $92.30.

Kura Sushi USA Price Performance

The firm's fifty day moving average is $77.54 and its two-hundred day moving average is $68.74. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -112.73 and a beta of 1.67.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. Kura Sushi USA had a negative return on equity of 0.49% and a negative net margin of 3.48%. The business had revenue of $73,965 billion during the quarter, compared to analyst estimates of $71.82 million. On average, equities analysts forecast that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kura Sushi USA

Several hedge funds have recently modified their holdings of KRUS. Quantbot Technologies LP purchased a new stake in Kura Sushi USA during the fourth quarter valued at about $61,000. BNP Paribas Financial Markets purchased a new stake in shares of Kura Sushi USA during the 4th quarter worth about $77,000. KLP Kapitalforvaltning AS acquired a new stake in Kura Sushi USA in the fourth quarter valued at approximately $109,000. AlphaQuest LLC bought a new position in shares of Kura Sushi USA during the 1st quarter valued at $68,000. Finally, US Bancorp DE raised its holdings in shares of Kura Sushi USA by 14.8% during the 1st quarter. US Bancorp DE now owns 2,073 shares of the company's stock valued at $106,000 after purchasing an additional 268 shares in the last quarter. 65.49% of the stock is owned by hedge funds and other institutional investors.

About Kura Sushi USA