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

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

Wall Street Analyst Weigh In

KRUS has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Kura Sushi USA from $60.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Lake Street Capital restated a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, April 8th. Zacks Research lowered shares of Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. DA Davidson reiterated a “buy” rating and issued a $90.00 price objective on shares of Kura Sushi USA in a report on Monday, April 6th. Finally, TD Cowen reiterated a “hold” rating and issued a $58.00 price objective on shares of Kura Sushi USA in a research report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Kura Sushi USA has a consensus rating of “Hold” and a consensus price target of $75.75.

Kura Sushi USA Price Performance

The company has a market cap of $702.29 million, a PE ratio of -362.84 and a beta of 1.32. The company’s 50 day simple moving average is $52.74 and its two-hundred day simple moving average is $60.12.

Institutional Trading of Kura Sushi USA

Several institutional investors have recently added to or reduced their stakes in KRUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Kura Sushi USA by 18.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,983 shares of the company’s stock worth $204,000 after purchasing an additional 613 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Kura Sushi USA by 122.5% in the 1st quarter. Jane Street Group LLC now owns 18,010 shares of the company’s stock valued at $922,000 after buying an additional 9,914 shares during the period. Creative Planning acquired a new position in Kura Sushi USA during the 2nd quarter worth about $243,000. Legal & General Group Plc boosted its holdings in Kura Sushi USA by 18.7% during the 2nd quarter. Legal & General Group Plc now owns 7,240 shares of the company’s stock valued at $623,000 after acquiring an additional 1,139 shares during the period. Finally, Rhumbline Advisers grew its position in Kura Sushi USA by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 9,670 shares of the company’s stock valued at $832,000 after acquiring an additional 741 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

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.