Kura Sushi USA (NASDAQ:KRUS) Trading 4.7% Higher - Here's What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) shares shot up 4.7% during trading on Wednesday . The stock traded as high as $75.00 and last traded at $76.03. 32,830 shares were traded during mid-day trading, a decline of 85% from the average session volume of 218,366 shares. The stock had previously closed at $72.60.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KRUS shares. Lake Street Capital decreased their price target on shares of Kura Sushi USA from $103.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. William Blair reaffirmed an "outperform" rating on shares of Kura Sushi USA in a research report on Wednesday, April 9th. TD Securities reissued a "hold" rating and issued a $72.00 price objective on shares of Kura Sushi USA in a research report on Friday, April 4th. Barclays lowered their price objective on shares of Kura Sushi USA from $75.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Benchmark reduced their price target on shares of Kura Sushi USA from $115.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Kura Sushi USA presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.

Kura Sushi USA Trading Down 2.2%

The company has a market cap of $911.21 million, a price-to-earnings ratio of -110.88 and a beta of 1.55. The company has a fifty day moving average price of $59.46 and a two-hundred day moving average price of $73.16.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. The firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $66.30 million. During the same period in the previous year, the business posted ($0.09) EPS. Sell-side analysts anticipate that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Kura Sushi USA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new position in shares of Kura Sushi USA during the 4th quarter worth approximately $31,000. Quantbot Technologies LP acquired a new stake in Kura Sushi USA during the 4th quarter valued at $61,000. BNP Paribas Financial Markets bought a new position in Kura Sushi USA in the 4th quarter valued at $77,000. KLP Kapitalforvaltning AS bought a new position in Kura Sushi USA in the 4th quarter valued at $109,000. Finally, AlphaQuest LLC acquired a new position in Kura Sushi USA in the first quarter worth $68,000. Institutional investors own 65.49% of the company's stock.

Kura Sushi USA Company Profile