Kura Sushi USA’s (NASDAQ:KRUS) lock-up period will expire on Tuesday, January 28th. Kura Sushi USA had issued 2,900,000 shares in its initial public offering on August 1st. The total size of the offering was $40,600,000 based on an initial share price of $14.00. After the expiration of Kura Sushi USA’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several brokerages have commented on KRUS. Maxim Group reiterated a “buy” rating and issued a $36.00 price target on shares of Kura Sushi USA in a research note on Thursday, January 9th. CLSA downgraded shares of Kura Sushi USA from an “outperform” rating to an “underperform” rating in a report on Thursday, December 12th. Finally, Stephens raised their price objective on Kura Sushi USA from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Kura Sushi USA currently has a consensus rating of “Buy” and a consensus price target of $32.25.
NASDAQ KRUS opened at $23.48 on Tuesday. The stock has a market cap of $192.54 million and a PE ratio of 86.96. The company’s 50 day moving average price is $25.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.36 and a quick ratio of 3.32. Kura Sushi USA has a 1-year low of $14.75 and a 1-year high of $28.80.
Several hedge funds have recently bought and sold shares of KRUS. Gilder Gagnon Howe & Co. LLC bought a new stake in Kura Sushi USA in the third quarter worth $5,201,000. Russell Investments Group Ltd. bought a new position in Kura Sushi USA during the third quarter valued at $2,178,000. Calamos Advisors LLC grew its stake in shares of Kura Sushi USA by 38.9% in the 4th quarter. Calamos Advisors LLC now owns 90,050 shares of the company’s stock worth $2,291,000 after buying an additional 25,242 shares in the last quarter. Boston Partners purchased a new position in shares of Kura Sushi USA in the 3rd quarter worth $256,000. Finally, California State Teachers Retirement System purchased a new position in shares of Kura Sushi USA in the 3rd quarter worth $103,000. 35.57% of the stock is owned by hedge funds and other institutional investors.
About Kura Sushi USA
Kura Sushi USA, Inc operates revolving sushi bar restaurants in the United States. The company's restaurants offer Japanese cuisine and a revolving sushi service model. As of April 1, 2019, it operated 21 restaurants in California, Texas, Georgia, and Illinois. The company was formerly known as Kula Sushi USA, Inc and changed its name to Kura Sushi USA, Inc in October 2017.
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