Kona Grill Inc (NASDAQ:KONA) insider Berke Bakay purchased 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $1.60 per share, for a total transaction of $96,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Kona Grill Inc (NASDAQ:KONA) remained flat at $2.00 during midday trading on Friday. The company’s stock had a trading volume of 276,066 shares. The stock’s market cap is $20.20 million. The firm’s 50 day moving average is $2.73 and its 200 day moving average is $5.12. Kona Grill Inc has a 52-week low of $1.50 and a 52-week high of $14.44.
Kona Grill (NASDAQ:KONA) last released its earnings results on Monday, July 31st. The restaurant operator reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.14. The firm had revenue of $46.98 million during the quarter, compared to the consensus estimate of $48.96 million. Kona Grill had a negative net margin of 9.21% and a negative return on equity of 75.15%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. Equities analysts expect that Kona Grill Inc will post ($1.08) EPS for the current fiscal year.
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Several equities analysts have recently issued reports on KONA shares. Raymond James Financial, Inc. lowered Kona Grill from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 12th. Telsey Advisory Group lowered Kona Grill from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $13.00 to $8.00 in a research note on Tuesday, May 9th. Wedbush reiterated an “outperform” rating and issued a $11.00 price target (up previously from $10.00) on shares of Kona Grill in a research note on Tuesday, May 9th. ValuEngine lowered Kona Grill from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded Kona Grill from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new position in Kona Grill during the second quarter worth approximately $109,000. Engine Capital Management LLC purchased a new position in Kona Grill during the first quarter worth approximately $189,000. KCG Holdings Inc. purchased a new position in Kona Grill during the first quarter worth approximately $200,000. Addison Clark Management L.L.C. boosted its position in 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 worth $1,360,000 after buying an additional 144,340 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Kona Grill by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 273,144 shares of the restaurant operator’s stock worth $3,428,000 after buying an additional 5,216 shares in the last quarter. 58.70% of the stock is currently owned by institutional investors and hedge funds.
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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