Zacks Investment Research downgraded shares of Kona Grill Inc. (NASDAQ:KONA) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Kona Grill owns and operates restaurants in Scottsdale, Ariz.; Chandler, Ariz.; Kansas City, Mo.; Las Vegas, Nev.; Denver, Colo.; Omaha, Neb.; Carmel, Ind.; and Sugar Land (Houston), Texas. Kona Grill restaurants offer freshly prepared food, personalized service, and a warm, contemporary ambiance that creates an exceptional, yet affordable, dining experience. Kona Grill restaurants serve a diverse selection of mainstream American dishes as well as a variety of appetizers and entrees with an international influence. “
A number of other equities analysts have also recently commented on the company. Oppenheimer Holdings Inc. lowered their price target on Kona Grill from $20.00 to $17.00 and set an outperform rating for the company in a report on Thursday, July 28th. Wedbush lowered their price target on Kona Grill from $21.00 to $18.00 and set an outperform rating for the company in a report on Thursday, July 28th. Feltl & Co. raised Kona Grill from a buy rating to a strong-buy rating in a report on Thursday, July 28th. Finally, Roth Capital started coverage on Kona Grill in a report on Thursday, July 7th. They set a buy rating and a $15.00 price target for the company. Two analysts have rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $17.40.
Kona Grill (NASDAQ:KONA) opened at 11.96 on Tuesday. Kona Grill has a one year low of $9.90 and a one year high of $18.36. The company’s market cap is $125.34 million. The firm’s 50-day moving average price is $13.29 and its 200-day moving average price is $12.50.
Kona Grill (NASDAQ:KONA) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.03. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. The business had revenue of $43.30 million for the quarter, compared to analyst estimates of $45.41 million. During the same period last year, the firm posted $0.01 EPS. Kona Grill’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities research analysts forecast that Kona Grill will post ($0.55) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new stake in shares of Kona Grill during the second quarter valued at $132,000. BlackRock Investment Management LLC boosted its stake in shares of Kona Grill by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 34,110 shares of the company’s stock valued at $366,000 after buying an additional 2,621 shares during the last quarter. Diker Management LLC bought a new stake in shares of Kona Grill during the first quarter valued at $480,000. Geode Capital Management LLC boosted its stake in shares of Kona Grill by 14.5% in the first quarter. Geode Capital Management LLC now owns 65,140 shares of the company’s stock valued at $843,000 after buying an additional 8,254 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 valued at $990,000 after buying an additional 546 shares during the last quarter. 80.89% of the stock is owned by institutional investors.
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.