Kewaunee Scientific Corporation (NASDAQ:KEQU) Sees Significant Increase in Short Interest

Kewaunee Scientific Corporation (NASDAQ:KEQU) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 34,005 shares, an increase of 27.1% from the January 15th total of 26,747 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 6,668 shares, the days-to-cover ratio is currently 5.1 days. Based on an average trading volume of 6,668 shares, the days-to-cover ratio is currently 5.1 days. Currently, 1.4% of the company’s shares are sold short.

Kewaunee Scientific Trading Down 0.9%

Kewaunee Scientific stock traded down $0.38 during trading hours on Monday, reaching $39.77. The stock had a trading volume of 4,287 shares, compared to its average volume of 4,336. The company has a fifty day simple moving average of $38.77 and a 200-day simple moving average of $43.73. Kewaunee Scientific has a 52 week low of $30.33 and a 52 week high of $71.10. The stock has a market cap of $114.14 million, a PE ratio of 10.09 and a beta of 0.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.48 and a quick ratio of 1.71.

Kewaunee Scientific (NASDAQ:KEQU) last posted its earnings results on Wednesday, December 10th. The technology company reported $0.91 earnings per share for the quarter. Kewaunee Scientific had a net margin of 4.11% and a return on equity of 22.39%. The company had revenue of $70.10 million during the quarter. During the same quarter in the prior year, the company posted $1.01 earnings per share.

Insider Buying and Selling at Kewaunee Scientific

In related news, CEO Thomas David Hull III sold 2,177 shares of Kewaunee Scientific stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $37.50, for a total value of $81,637.50. Following the transaction, the chief executive officer owned 33,000 shares in the company, valued at $1,237,500. This trade represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 4,719 shares of company stock valued at $179,028. Insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Kewaunee Scientific

A number of institutional investors have recently made changes to their positions in KEQU. Bank of America Corp DE increased its holdings in shares of Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock worth $28,000 after purchasing an additional 443 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Kewaunee Scientific in the third quarter worth approximately $38,000. US Bancorp DE grew its holdings in Kewaunee Scientific by 80.0% during the third quarter. US Bancorp DE now owns 900 shares of the technology company’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Raymond James Financial Inc. bought a new stake in Kewaunee Scientific during the 2nd quarter worth approximately $60,000. Finally, Barclays PLC bought a new position in shares of Kewaunee Scientific in the fourth quarter worth approximately $92,000. Hedge funds and other institutional investors own 32.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Kewaunee Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Kewaunee Scientific

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.