Shares of Kona Grill Inc. (NASDAQ:KONA) traded down 2.4% during trading on Wednesday . The stock traded as low as $13.43 and last traded at $13.60, with a volume of 75,999 shares changing hands. The stock had previously closed at $13.94.

Several equities analysts recently weighed in on KONA shares. Oppenheimer Holdings Inc. cut their price objective on shares of Kona Grill from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Wedbush cut their price objective on shares of Kona Grill from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Feltl & Co. upgraded shares of Kona Grill from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of Kona Grill from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Roth Capital started coverage on shares of Kona Grill in a report on Thursday, July 7th. They issued a “buy” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.29.

The firm has a 50 day moving average of $13.02 and a 200-day moving average of $12.51. The stock’s market cap is $142.53 million.

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Kona Grill (NASDAQ:KONA) last released its earnings results on Wednesday, July 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. Kona Grill had a negative net margin of 3.81% and a negative return on equity of 9.54%. The company had revenue of $43.30 million for the quarter, compared to analyst estimates of $45.41 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue was up 19.6% on a year-over-year basis. Equities research analysts anticipate that Kona Grill Inc. will post ($0.54) EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in Kona Grill during the second quarter worth about $132,000. BlackRock Investment Management LLC increased its position in Kona Grill by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 34,110 shares of the company’s stock worth $366,000 after buying an additional 2,621 shares during the last quarter. Diker Management LLC bought a new position in Kona Grill during the first quarter worth about $480,000. Geode Capital Management LLC increased its position in Kona Grill by 14.5% in the first quarter. Geode Capital Management LLC now owns 65,140 shares of the company’s stock worth $843,000 after buying an additional 8,254 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Kona Grill by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 92,334 shares of the company’s stock worth $990,000 after buying an additional 546 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.

About Kona Grill

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.

5 Day Chart for NASDAQ:KONA

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