Shares of Kona Grill Inc (NASDAQ:KONA) were down 5.6% during mid-day trading on Tuesday . The stock traded as low as $1.62 and last traded at $1.70. Approximately 544,318 shares traded hands during trading, an increase of 280% from the average daily volume of 143,384 shares. The stock had previously closed at $1.80.

Several analysts recently issued reports on KONA shares. ValuEngine lowered Kona Grill from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Kona Grill from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Lake Street Capital dropped their price objective on Kona Grill from $5.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, November 10th. One equities research 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. Kona Grill presently has an average rating of “Hold” and a consensus price target of $6.17.

The company has a current ratio of 0.54, a quick ratio of 0.42 and a debt-to-equity ratio of 2.07.

Kona Grill (NASDAQ:KONA) last released its quarterly earnings data on Thursday, November 9th. The restaurant operator reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The business had revenue of $44.40 million during the quarter, compared to the consensus estimate of $46.32 million. Kona Grill had a negative net margin of 15.32% and a negative return on equity of 55.38%. Kona Grill’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS.

A number of large investors have recently added to or reduced their stakes in KONA. Dimensional Fund Advisors LP raised its stake 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. LMR Partners LLP bought a new stake in Kona Grill in the second quarter valued at approximately $109,000. Finally, Goldman Sachs Group Inc. bought a new stake in Kona Grill in the second quarter valued at approximately $159,000. Hedge funds and other institutional investors own 37.21% of the company’s stock.

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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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