Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 5.7% – Should You Sell?

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares dropped 5.7% on Thursday . The stock traded as low as $56.75 and last traded at $56.6090. Approximately 248,986 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 327,013 shares. The stock had previously closed at $60.00.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KRUS shares. Citigroup lifted their target price on Kura Sushi USA from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Barclays lifted their target price on Kura Sushi USA from $60.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Kura Sushi USA in a research note on Friday, April 10th. DA Davidson restated a “buy” rating and issued a $90.00 target price on shares of Kura Sushi USA in a research report on Monday, April 6th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kura Sushi USA currently has a consensus rating of “Hold” and an average target price of $77.00.

Kura Sushi USA Price Performance

The company’s 50 day moving average is $65.78 and its two-hundred day moving average is $60.91. The firm has a market cap of $675.01 million, a P/E ratio of -350.41 and a beta of 1.65.

Insider Buying and Selling at Kura Sushi USA

In other news, insider Hajime Uba sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $72.93, for a total transaction of $720,110.82. Following the completion of the sale, the insider owned 6,026 shares of the company’s stock, valued at approximately $439,476.18. This trade represents a 62.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Kura Sushi USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pillsbury Lake Capital LLC acquired a new position in shares of Kura Sushi USA in the 4th quarter valued at $8,037,000. Millennium Management LLC increased its stake in shares of Kura Sushi USA by 1,404.2% during the 4th quarter. Millennium Management LLC now owns 168,820 shares of the company’s stock worth $8,834,000 after purchasing an additional 157,597 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Kura Sushi USA during the 4th quarter worth about $1,308,000. Inspire Investing LLC increased its stake in shares of Kura Sushi USA by 18.0% during the 4th quarter. Inspire Investing LLC now owns 9,059 shares of the company’s stock worth $474,000 after purchasing an additional 1,382 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Kura Sushi USA in the 4th quarter valued at about $19,194,000. 65.49% of the stock is owned by institutional investors.

About Kura Sushi USA

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.