Kona Grill (KONA) Reaches New 52-Week Low at $1.45

Kona Grill Inc (NASDAQ:KONA)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.45 and last traded at $1.50, with a volume of 100 shares trading hands. The stock had previously closed at $1.55.

KONA has been the subject of a number of analyst reports. ValuEngine upgraded Kona Grill from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Lake Street Capital lifted their price target on Kona Grill to $5.00 and gave the company a “buy” rating in a research note on Friday, August 10th.

The company has a debt-to-equity ratio of 11.39, a current ratio of 0.47 and a quick ratio of 0.36.

Kona Grill (NASDAQ:KONA) last released its quarterly earnings results on Thursday, November 8th. The restaurant operator reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.23). The company had revenue of $37.44 million for the quarter. Kona Grill had a negative net margin of 12.77% and a negative return on equity of 239.30%.

A hedge fund recently raised its stake in Kona Grill stock. Renaissance Technologies LLC raised its stake in shares of Kona Grill Inc (NASDAQ:KONA) by 3.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 831,859 shares of the restaurant operator’s stock after purchasing an additional 29,700 shares during the period. Renaissance Technologies LLC owned approximately 6.27% of Kona Grill worth $1,955,000 as of its most recent SEC filing. 12.78% of the stock is owned by hedge funds and other institutional investors.

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About Kona Grill (NASDAQ:KONA)

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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