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

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

Institutional Investors Weigh In On Kura Sushi USA

Several institutional investors have recently made changes to their positions in KRUS. Rheos Capital Works Inc. bought a new stake in shares of Kura Sushi USA during the first quarter valued at about $10,940,000. Red Door Wealth Management LLC bought a new stake in Kura Sushi USA during the 1st quarter worth approximately $237,000. RiverPark Advisors LLC lifted its stake in Kura Sushi USA by 293.5% in the 1st quarter. RiverPark Advisors LLC now owns 1,452 shares of the company’s stock worth $167,000 after purchasing an additional 1,083 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in 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 period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Kura Sushi USA by 36.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,690 shares of the company’s stock valued at $425,000 after purchasing an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Price Performance

Shares of KRUS traded down $0.29 during trading hours on Tuesday, hitting $83.70. The company’s stock had a trading volume of 16,892 shares, compared to its average volume of 158,904. The business has a 50 day simple moving average of $71.20 and a two-hundred day simple moving average of $82.09. The company has a market cap of $940.03 million, a price-to-earnings ratio of -1,199.86 and a beta of 1.89. Kura Sushi USA has a 52-week low of $48.66 and a 52-week high of $122.81.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KRUS. Barclays decreased their price target 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. Roth Mkm reissued a “buy” rating and issued a $70.00 price target (down from $90.00) on shares of Kura Sushi USA in a report on Wednesday, July 10th. Craig Hallum reduced their price target on shares of Kura Sushi USA from $120.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Citigroup lowered their price objective on shares of Kura Sushi USA from $79.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler reduced their target price on shares of Kura Sushi USA from $89.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kura Sushi USA presently has an average rating of “Moderate Buy” and a consensus price target of $72.38.

About Kura Sushi USA