Kura Sushi USA, Inc. (NASDAQ:KRUS) Short Interest Update

Kura Sushi USA, Inc. (NASDAQ:KRUS) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,240,000 shares, a drop of 6.1% from the October 15th total of 1,320,000 shares. Based on an average daily trading volume, of 109,000 shares, the short-interest ratio is presently 11.4 days. Currently, 22.7% of the company’s shares are sold short.

Kura Sushi USA Stock Up 5.9 %

Shares of KRUS traded up $3.61 on Friday, hitting $64.98. The company’s stock had a trading volume of 172,968 shares, compared to its average volume of 149,268. The firm has a market capitalization of $721.93 million, a price-to-earnings ratio of 632.50 and a beta of 2.04. The firm’s fifty day moving average price is $66.13 and its 200-day moving average price is $79.05. Kura Sushi USA has a fifty-two week low of $37.97 and a fifty-two week high of $110.00.

Institutional Investors Weigh In On Kura Sushi USA

Several large investors have recently made changes to their positions in the stock. FMR LLC lifted its position in Kura Sushi USA by 80,772.3% in the 2nd quarter. FMR LLC now owns 228,060 shares of the company’s stock valued at $11,296,000 after acquiring an additional 227,778 shares in the last quarter. Granite Investment Partners LLC bought a new position in Kura Sushi USA in the second quarter valued at $15,054,000. Marshall Wace LLP increased its stake in Kura Sushi USA by 148.6% in the 4th quarter. Marshall Wace LLP now owns 204,837 shares of the company’s stock valued at $9,767,000 after buying an additional 122,457 shares during the last quarter. Portolan Capital Management LLC lifted its position in Kura Sushi USA by 36.7% during the 1st quarter. Portolan Capital Management LLC now owns 455,709 shares of the company’s stock worth $30,004,000 after buying an additional 122,345 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Kura Sushi USA by 33.7% during the 2nd quarter. BlackRock Inc. now owns 387,168 shares of the company’s stock worth $35,987,000 after buying an additional 97,654 shares during the last quarter. Institutional investors own 62.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their price target on shares of Kura Sushi USA from $95.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.25.

About Kura Sushi USA

Kura Sushi USA, Inc operates technology-enabled Japanese restaurants in the United States. The company's restaurants provide Japanese cuisine through an engaging revolving sushi service model, which is known as Kura Experience'. The company was formerly known as Kula Sushi USA, Inc and changed its name to Kura Sushi USA, Inc in October 2017.