Kona Grill Inc. (NASDAQ:KONA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Kona Grill owns and operates restaurants in Scottsdale, Ariz.; Chandler, Ariz.; Kansas City, Mo.; Las Vegas, Nev.; Denver, Colo.; Omaha, Neb.; Carmel, Ind.; and Sugar Land (Houston), Texas. Kona Grill restaurants offer freshly prepared food, personalized service, and a warm, contemporary ambiance that creates an exceptional, yet affordable, dining experience. Kona Grill restaurants serve a diverse selection of mainstream American dishes as well as a variety of appetizers and entrees with an international influence. “
A number of other equities research analysts have also recently issued reports on the stock. Roth Capital started coverage on shares of Kona Grill in a report on Thursday, July 7th. They set a “buy” rating and a $15.00 price target for the company. Wedbush decreased their price target on shares of Kona Grill from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Feltl & Co. upgraded shares of Kona Grill from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. decreased their price target on shares of Kona Grill from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $17.40.
Kona Grill (NASDAQ:KONA) opened at 12.00 on Tuesday. The stock’s 50 day moving average price is $13.28 and its 200 day moving average price is $12.50. Kona Grill has a 12-month low of $9.90 and a 12-month high of $18.36. The company’s market capitalization is $125.76 million.
Kona Grill (NASDAQ:KONA) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. The business earned $43.30 million during the quarter, compared to the consensus estimate of $45.41 million. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities research analysts anticipate that Kona Grill will post ($0.55) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in KONA. Penn Capital Management Co. Inc. bought a new stake in Kona Grill during the second quarter valued at $3,081,000. Wellington Management Group LLP raised its position in Kona Grill by 39.5% in the first quarter. Wellington Management Group LLP now owns 997,602 shares of the company’s stock valued at $12,919,000 after buying an additional 282,435 shares during the period. Emerald Acquisition Ltd. acquired a new position in Kona Grill during the second quarter valued at about $1,327,000. Emerald Mutual Fund Advisers Trust raised its position in Kona Grill by 13.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 410,040 shares of the company’s stock valued at $4,396,000 after buying an additional 50,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Kona Grill by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 271,728 shares of the company’s stock valued at $2,913,000 after buying an additional 47,102 shares during the period. Institutional investors and hedge funds own 80.89% of the company’s stock.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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