Kona Grill, Inc. (KONA) Receives Average Rating of “Hold” from Analysts
Kona Grill, Inc. (NASDAQ:KONA) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.67.
A number of research firms have issued reports on KONA. Lake Street Capital reiterated a “buy” rating and set a $5.00 target price (down from $9.00) on shares of Kona Grill in a report on Tuesday, August 1st. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Kona Grill in a report on Monday, July 24th. ValuEngine lowered shares of Kona Grill from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Telsey Advisory Group reduced their target price on shares of Kona Grill from $8.00 to $4.00 and set a “market perform” rating on the stock in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Kona Grill from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
Kona Grill (NASDAQ:KONA) opened at 4.30 on Friday. Kona Grill has a one year low of $1.50 and a one year high of $14.14. The stock’s market capitalization is $43.44 million. The company’s 50-day moving average is $2.78 and its 200 day moving average is $4.10.
Kona Grill (NASDAQ:KONA) last released its earnings results on Monday, July 31st. The restaurant operator reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.14). The business had revenue of $46.98 million for the quarter, compared to analyst estimates of $48.96 million. Kona Grill had a negative return on equity of 39.42% and a negative net margin of 14.98%. Kona Grill’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Equities analysts expect that Kona Grill will post ($1.08) EPS for the current year.
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In other news, insider Berke Bakay acquired 60,000 shares of Kona Grill stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $96,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director James R. Jundt acquired 21,000 shares of Kona Grill stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $33,390.00. Following the completion of the acquisition, the director now directly owns 696,611 shares in the company, valued at approximately $1,107,611.49. The disclosure for this purchase can be found here. Insiders bought a total of 110,100 shares of company stock worth $182,939 over the last 90 days. Company insiders own 29.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in KONA. Addison Clark Management L.L.C. raised its holdings in shares of Kona Grill by 201.9% in the 1st quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock valued at $1,360,000 after purchasing an additional 144,340 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kona Grill by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 323,830 shares of the restaurant operator’s stock valued at $2,040,000 after purchasing an additional 50,686 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Kona Grill in the 2nd quarter valued at $159,000. KCG Holdings Inc. acquired a new stake in shares of Kona Grill in the 1st quarter valued at $200,000. Finally, Engine Capital Management LLC acquired a new stake in shares of Kona Grill in the 1st quarter valued at $189,000. Institutional investors and hedge funds own 50.14% of the company’s stock.
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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