Zacks Investment Research upgraded shares of Kona Grill, Inc. (NASDAQ:KONA) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
Several other equities analysts have also recently issued reports on the company. Wedbush restated an outperform rating and issued a $11.00 price target (up previously from $10.00) on shares of Kona Grill in a research report on Tuesday, May 9th. ValuEngine cut Kona Grill from a sell rating to a strong sell rating in a research report on Friday, June 2nd. Finally, Telsey Advisory Group cut Kona Grill from an outperform rating to a market perform rating and dropped their price target for the company from $13.00 to $8.00 in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Kona Grill currently has an average rating of Hold and an average target price of $12.00.
Shares of Kona Grill (KONA) traded up 5.66% during mid-day trading on Wednesday, hitting $2.80. The stock had a trading volume of 135,378 shares. Kona Grill has a 52-week low of $2.50 and a 52-week high of $14.44. The firm has a 50 day moving average price of $3.90 and a 200 day moving average price of $6.99. The firm’s market cap is $28.27 million.
Kona Grill (NASDAQ:KONA) last issued its quarterly earnings results on Monday, May 8th. The restaurant operator reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. The company had revenue of $45.20 million during the quarter, compared to analyst estimates of $46.96 million. Kona Grill had a negative net margin of 13.31% and a negative return on equity of 30.92%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. Equities analysts predict that Kona Grill will post ($0.84) EPS for the current year.
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In other Kona Grill news, major shareholder Bbs Capital Fund Lp acquired 50,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were bought at an average price of $3.65 per share, with a total value of $182,500.00. Following the acquisition, the insider now owns 92,602 shares of the company’s stock, valued at $337,997.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 100,500 shares of company stock worth $426,250 in the last ninety days. 29.20% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock worth $2,703,000 after buying an additional 11,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kona Grill by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 323,830 shares of the restaurant operator’s stock worth $2,040,000 after buying an additional 50,686 shares in the last quarter. Addison Clark Management L.L.C. raised its stake in shares of Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock worth $1,360,000 after buying an additional 144,340 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Kona Grill during the fourth quarter worth $581,000. Finally, KCG Holdings Inc. acquired a new stake in shares of Kona Grill during the first quarter worth $200,000. 62.91% of the stock is currently owned by institutional investors.
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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