Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 6.5% – Here’s What Happened

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 6.5% during trading on Monday . The stock traded as low as $99.81 and last traded at $99.81. Approximately 62,682 shares traded hands during trading, a decline of 61% from the average daily volume of 161,115 shares. The stock had previously closed at $106.76.

Analyst Upgrades and Downgrades

KRUS has been the subject of several research analyst reports. Northcoast Research started coverage on shares of Kura Sushi USA in a research note on Tuesday, September 10th. They set a “buy” rating and a $79.00 target price for the company. Craig Hallum boosted their price target on shares of Kura Sushi USA from $85.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Kura Sushi USA from $70.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Piper Sandler boosted their price target on shares of Kura Sushi USA from $63.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.88.

Kura Sushi USA Trading Up 2.8 %

The company’s fifty day moving average price is $93.98 and its two-hundred day moving average price is $78.82. The firm has a market cap of $1.23 billion, a P/E ratio of -128.71 and a beta of 1.80.

Institutional Investors Weigh In On Kura Sushi USA

Several large investors have recently made changes to their positions in KRUS. Price T Rowe Associates Inc. MD grew its holdings in shares of Kura Sushi USA by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock worth $378,000 after purchasing an additional 232 shares during the last quarter. Comerica Bank grew its holdings in shares of Kura Sushi USA by 58.6% in the 1st quarter. Comerica Bank now owns 268 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Kura Sushi USA in the 2nd quarter worth about $412,000. Kings Path Partners LLC bought a new stake in shares of Kura Sushi USA in the 2nd quarter worth about $761,000. Finally, Versor Investments LP bought a new stake in Kura Sushi USA during the 2nd quarter worth about $233,000. Institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Company Profile