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

Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) was the recipient of a large 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. Based on an average daily trading volume, of 194,600 shares, the short-interest ratio is currently 9.0 days. Approximately 28.7% of the company's shares are sold short.

Institutional Investors Weigh In On Kura Sushi USA

Several hedge funds and other institutional investors have recently modified their holdings of KRUS. Vanguard Group Inc. increased its stake in Kura Sushi USA by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 327,315 shares of the company's stock valued at $37,694,000 after purchasing an additional 5,942 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kura Sushi USA by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 183,766 shares of the company's stock worth $11,602,000 after acquiring an additional 8,146 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Kura Sushi USA by 28.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 103,916 shares of the company's stock valued at $11,967,000 after acquiring an additional 22,823 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Kura Sushi USA by 42.6% during the 1st quarter. Russell Investments Group Ltd. now owns 103,290 shares of the company's stock valued at $11,895,000 after purchasing an additional 30,836 shares during the last quarter. Finally, Rheos Capital Works Inc. bought a new stake in Kura Sushi USA during the 1st quarter worth approximately $10,940,000. Institutional investors own 65.49% of the company's stock.

Analysts Set New Price Targets

KRUS has been the subject of a number of analyst reports. Northcoast Research assumed coverage on Kura Sushi USA in a research report on Tuesday, September 10th. They set a "buy" rating and a $79.00 price objective for the company. Roth Mkm restated a "buy" rating and issued a $70.00 price target (down previously from $90.00) on shares of Kura Sushi USA in a research report on Wednesday, July 10th. Barclays decreased their price objective on shares of 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. Citigroup dropped their target price on shares of Kura Sushi USA from $79.00 to $68.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler decreased their price target on Kura Sushi USA from $89.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kura Sushi USA has an average rating of "Moderate Buy" and a consensus target price of $72.38.

Kura Sushi USA Stock Performance

Shares of NASDAQ KRUS traded up $0.02 during trading on Tuesday, hitting $84.01. 64,213 shares of the company traded hands, compared to its average volume of 159,146. The business's fifty day moving average is $71.20 and its 200 day moving average is $82.09. Kura Sushi USA has a fifty-two week low of $48.66 and a fifty-two week high of $122.81. The firm has a market capitalization of $943.52 million, a price-to-earnings ratio of -1,203.43 and a beta of 1.89.

Kura Sushi USA Company Profile