Kura Sushi USA, Inc. (NASDAQ:KRUS) Short Interest Down 11.2% in September

Kura Sushi USA, Inc. (NASDAQ:KRUS) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,750,000 shares, a drop of 11.2% from the September 15th total of 1,970,000 shares. Based on an average trading volume of 194,600 shares, the short-interest ratio is presently 9.0 days. Currently, 28.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KRUS. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective (down from $90.00) on shares of Kura Sushi USA in a report on Wednesday, July 10th. Northcoast Research started coverage on shares of Kura Sushi USA in a report on Tuesday, September 10th. They issued a “buy” rating and a $79.00 price objective for the company. Craig Hallum lowered their price objective on Kura Sushi USA from $120.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays cut their target price on Kura Sushi USA from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Lake Street Capital decreased their price target on Kura Sushi USA from $72.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kura Sushi USA currently has an average rating of “Moderate Buy” and an average price target of $72.38.

Kura Sushi USA Price Performance

KRUS opened at $83.79 on Thursday. The company’s 50 day moving average price is $72.41 and its two-hundred day moving average price is $81.88. The firm has a market capitalization of $941.05 million, a price-to-earnings ratio of -1,197.00 and a beta of 1.89. Kura Sushi USA has a fifty-two week low of $48.66 and a fifty-two week high of $122.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its stake in shares of Kura Sushi USA by 58.6% in the first quarter. Comerica Bank now owns 268 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Price T Rowe Associates Inc. MD increased its position in Kura Sushi USA by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,278 shares of the company’s stock valued at $378,000 after purchasing an additional 232 shares during the period. Rhumbline Advisers raised its holdings in Kura Sushi USA by 4.5% during the 2nd quarter. Rhumbline Advisers now owns 8,172 shares of the company’s stock worth $516,000 after purchasing an additional 350 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Kura Sushi USA in the 1st quarter worth approximately $46,000. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Kura Sushi USA by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 28,751 shares of the company’s stock valued at $3,311,000 after purchasing an additional 419 shares during the last quarter. 65.49% of the stock is owned by institutional investors and hedge funds.

About Kura Sushi USA