Kona Grill (KONA) Reaches New 12-Month Low After Earnings Miss
Kona Grill Inc (NASDAQ:KONA)’s share price hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.46 and last traded at $1.61, with a volume of 42357 shares changing hands. The stock had previously closed at $1.98.
The restaurant operator reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.23). 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.
A number of analysts have weighed in on KONA shares. ValuEngine upgraded shares of Kona Grill from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Lake Street Capital raised their target price on shares of Kona Grill to $5.00 and gave the company a “buy” rating in a research report on Friday, August 10th.
The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.53 and a current ratio of 0.66.
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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