Kura Sushi USA, Inc. (NASDAQ:KRUS) Short Interest Down 6.1% in October

Kura Sushi USA, Inc. (NASDAQ:KRUS) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,240,000 shares, a decline of 6.1% from the October 15th total of 1,320,000 shares. Based on an average trading volume of 109,000 shares, the short-interest ratio is presently 11.4 days. Currently, 22.7% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Barclays decreased their target price on shares of Kura Sushi USA from $95.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Kura Sushi USA during the second quarter worth approximately $498,000. Roubaix Capital LLC increased its holdings in shares of Kura Sushi USA by 71.7% during the 1st quarter. Roubaix Capital LLC now owns 36,389 shares of the company’s stock worth $2,396,000 after acquiring an additional 15,196 shares during the last quarter. Ranger Investment Management L.P. raised its stake in Kura Sushi USA by 38.4% in the 1st quarter. Ranger Investment Management L.P. now owns 154,275 shares of the company’s stock valued at $10,157,000 after acquiring an additional 42,790 shares during the period. Next Century Growth Investors LLC boosted its position in Kura Sushi USA by 48.5% during the first quarter. Next Century Growth Investors LLC now owns 268,049 shares of the company’s stock worth $17,648,000 after purchasing an additional 87,495 shares during the period. Finally, Valmark Advisers Inc. bought a new position in Kura Sushi USA during the first quarter worth $445,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Kura Sushi USA Price Performance

NASDAQ KRUS traded up $3.08 on Friday, hitting $64.45. 229,280 shares of the stock were exchanged, compared to its average volume of 149,559. The company has a market capitalization of $716.04 million, a PE ratio of 644.50 and a beta of 2.04. The business’s fifty day moving average is $65.79 and its 200 day moving average is $79.02. Kura Sushi USA has a 52 week low of $37.97 and a 52 week high of $110.00.

About Kura Sushi USA

Kura Sushi USA, Inc operates technology-enabled Japanese restaurants in the United States. The company's restaurants provide Japanese cuisine through an engaging revolving sushi service model, which is known as Kura Experience'. The company was formerly known as Kula Sushi USA, Inc and changed its name to Kura Sushi USA, Inc in October 2017.