Kona Grill (NASDAQ:KONA) announced its quarterly earnings results on Thursday. The restaurant operator reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.23), Morningstar.com reports. Kona Grill had a negative net margin of 11.21% and a negative return on equity of 114.10%. The company had revenue of $37.44 million during the quarter.
NASDAQ:KONA traded down $0.16 during trading hours on Friday, reaching $1.82. The company had a trading volume of 162,676 shares, compared to its average volume of 15,933. Kona Grill has a one year low of $1.46 and a one year high of $3.00. The company has a current ratio of 0.66, a quick ratio of 0.53 and a debt-to-equity ratio of 4.15.
A number of brokerages have weighed in on KONA. Lake Street Capital upped their price target on Kona Grill to $5.00 and gave the company a “buy” rating in a research report on Friday, August 10th. ValuEngine upgraded Kona Grill from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th.
An institutional investor recently raised its position in Kona Grill stock. Renaissance Technologies LLC raised its stake in Kona Grill Inc (NASDAQ:KONA) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 831,859 shares of the restaurant operator’s stock after acquiring an additional 29,700 shares during the period. Renaissance Technologies LLC owned about 6.27% of Kona Grill worth $1,955,000 as of its most recent SEC filing. 12.97% of the stock is currently owned by hedge funds and other institutional investors.
Kona Grill Company Profile
Kona Grill, Inc owns and operates upscale casual restaurants under the Kona Grill brand name. As of December 31, 2017, it owned and operated 46 restaurants in 23 states of the United States and Puerto Rico; and 3 franchised restaurants in Mexico, the United Arab Emirates, and Canada. The company is based in Scottsdale, Arizona.
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