Short Interest in Kura Sushi USA, Inc. (NASDAQ:KRUS) Declines By 6.8%

Posted by Rob Hiaasen on Dec 2nd, 2024

Kura Sushi USA, Inc. (NASDAQ:KRUS – Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,370,000 shares, a drop of 6.8% from the October 31st total of 1,470,000 shares. Currently, 20.8% of the company’s shares are short sold. Based on an average daily volume of 163,200 shares, the short-interest ratio is presently 8.4 days.

Kura Sushi USA Trading Down 1.8 %

Shares of KRUS traded down $1.95 during midday trading on Monday, reaching $104.97. 32,913 shares of the stock were exchanged, compared to its average volume of 162,025. Kura Sushi USA has a 52 week low of $48.66 and a 52 week high of $122.81. The company’s 50 day moving average is $90.96 and its two-hundred day moving average is $78.79. The company has a market capitalization of $1.25 billion, a P/E ratio of -137.08 and a beta of 1.86.

Analyst Ratings Changes

KRUS has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Kura Sushi USA from $63.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on Kura Sushi USA from $85.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays increased their target price on Kura Sushi USA from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, Northcoast Research initiated coverage on Kura Sushi USA in a research note on Tuesday, September 10th. They issued a “buy” rating and a $79.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.88.

Check Out Our Latest Research Report on KRUS

Institutional Investors Weigh In On Kura Sushi USA

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Kura Sushi USA by 45.7% during the third quarter. FMR LLC now owns 1,246,359 shares of the company’s stock valued at $100,407,000 after purchasing an additional 390,688 shares in the last quarter. Fred Alger Management LLC boosted its position in Kura Sushi USA by 24.5% during the third quarter. Fred Alger Management LLC now owns 505,600 shares of the company’s stock valued at $40,731,000 after purchasing an additional 99,515 shares in the last quarter. Vanguard Group Inc. boosted its position in Kura Sushi USA by 1.8% during the first 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. Portolan Capital Management LLC boosted its position in Kura Sushi USA by 15.3% during the third quarter. Portolan Capital Management LLC now owns 216,530 shares of the company’s stock valued at $17,444,000 after purchasing an additional 28,655 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its position in Kura Sushi USA by 6.3% during the third quarter. Rheos Capital Works Inc. now owns 204,000 shares of the company’s stock valued at $16,434,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors own 65.49% of the company’s stock.