Shares of Kona Grill, Inc. (NASDAQ:KONA) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.67.
Several research analysts recently issued reports on the stock. Lake Street Capital reiterated a “buy” rating and issued a $5.00 price target (down from $9.00) on shares of Kona Grill in a research note on Tuesday, August 1st. Telsey Advisory Group decreased their price target on shares of Kona Grill from $8.00 to $4.00 and set a “market perform” rating for the company in a research note on Tuesday, August 1st. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Kona Grill in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Kona Grill from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine lowered shares of Kona Grill from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd.
Shares of Kona Grill (NASDAQ KONA) traded up 6.06% on Friday, hitting $1.75. 282,792 shares of the stock were exchanged. The company’s market cap is $17.67 million. Kona Grill has a 12 month low of $1.50 and a 12 month high of $14.44. The company has a 50-day moving average price of $2.94 and a 200 day moving average price of $5.37.
Kona Grill (NASDAQ:KONA) last issued its quarterly earnings results on Monday, July 31st. The restaurant operator reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.14. The business had revenue of $46.98 million during the quarter, compared to the consensus estimate of $48.96 million. Kona Grill had a negative return on equity of 39.42% and a negative net margin of 14.98%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Equities analysts forecast that Kona Grill will post ($1.08) EPS for the current fiscal year.
In other Kona Grill news, major shareholder Bbs Capital Fund Lp purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average cost of $4.83 per share, for a total transaction of $241,500.00. Following the purchase, the insider now directly owns 92,602 shares in the company, valued at $447,267.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders purchased 100,500 shares of company stock valued at $426,250. 29.20% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in KONA. LMR Partners LLP purchased a new stake in shares of Kona Grill during the second quarter valued at approximately $109,000. Engine Capital Management LLC purchased a new stake in shares of Kona Grill during the first quarter valued at approximately $189,000. KCG Holdings Inc. purchased a new stake in shares of Kona Grill during the first quarter valued at approximately $200,000. Renaissance Technologies LLC increased its stake in shares of Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock valued at $2,703,000 after buying an additional 11,100 shares during the period. Finally, Addison Clark Management L.L.C. increased its stake in shares of Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock valued at $1,360,000 after buying an additional 144,340 shares during the period. 58.70% of the stock is currently owned by institutional investors.
Kona Grill Company Profile
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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