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 purchased at an average cost of $1.60 per share, with a total value of $96,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kona Grill, Inc. (KONA) traded up 20.00% during midday trading on Wednesday, reaching $2.10. 592,685 shares of the company traded hands. Kona Grill, Inc. has a 12-month low of $1.50 and a 12-month high of $14.44. The stock’s market capitalization is $21.21 million. The company has a 50 day moving average of $2.94 and a 200-day moving average of $5.37.

Kona Grill (NASDAQ:KONA) last released its quarterly earnings data on Monday, July 31st. The restaurant operator reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.14. Kona Grill had a negative net margin of 14.98% and a negative return on equity of 39.42%. The firm had revenue of $46.98 million during the quarter, compared to the consensus estimate of $48.96 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Kona Grill, Inc. will post ($1.08) EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in 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. Dimensional Fund Advisors LP raised its position in Kona Grill by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 323,830 shares of the restaurant operator’s stock valued at $2,040,000 after buying an additional 50,686 shares during the period. Addison Clark Management L.L.C. raised 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 valued at $1,360,000 after buying an additional 144,340 shares during the period. KCG Holdings Inc. bought a new position in Kona Grill during the first quarter valued at about $200,000. Finally, Engine Capital Management LLC bought a new position in Kona Grill during the first quarter valued at about $189,000. Institutional investors own 58.70% of the company’s stock.

Several brokerages have recently issued reports on KONA. Telsey Advisory Group lowered shares of 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 report on Tuesday, May 9th. Wedbush reissued an “outperform” rating and issued a $11.00 price target (up previously from $10.00) on shares of Kona Grill in a report on Tuesday, May 9th. ValuEngine lowered shares of Kona Grill from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Kona Grill in a report on Monday, July 24th. Finally, Zacks Investment Research raised shares of Kona Grill from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.67.

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.

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