Key Tronic Corporation (NASDAQ:KTCC) Sees Significant Drop in Short Interest

Key Tronic Corporation (NASDAQ:KTCC – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 21,768 shares, a decline of 50.1% from the August 31st total of 43,603 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 34,496 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Key Tronic in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Read Our Latest Stock Report on KTCC

Key Tronic Trading Up 0.7%

Shares of Key Tronic stock traded up $0.01 during trading on Tuesday, hitting $2.12. The company’s stock had a trading volume of 518 shares, compared to its average volume of 19,636. The stock has a market cap of $23.41 million, a price-to-earnings ratio of -0.48 and a beta of 1.14. Key Tronic has a 52 week low of $2.08 and a 52 week high of $4.42. The stock has a 50-day moving average price of $3.23 and a two-hundred day moving average price of $3.28. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.10 and a quick ratio of 1.20.

Key Tronic (NASDAQ:KTCC – Get Free Report) last announced its earnings results on Thursday, August 27th. The technology company reported ($0.26) earnings per share (EPS) for the quarter. The company had revenue of $102.03 million for the quarter. Key Tronic had a negative return on equity of 7.05% and a negative net margin of 12.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tieton Capital Management LLC bought a new position in Key Tronic during the second quarter worth $3,143,000. Sei Investments Co. boosted its position in Key Tronic by 105.7% during the first quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock valued at $944,000 after acquiring an additional 177,591 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Key Tronic during the 2nd quarter worth about $57,000. BlackRock Inc. acquired a new stake in Key Tronic during the 2nd quarter worth about $533,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Key Tronic in the 2nd quarter worth about $95,000. Institutional investors and hedge funds own 40.69% of the company’s stock.

About Key Tronic

(Get Free Report)

Key Tronic Corporation is an electronics manufacturing services (EMS) provider that designs, engineers, manufactures and distributes electronic and mechanical products for original equipment manufacturers. The company offers integrated production capabilities that can include printed circuit board assembly, product and tooling design, injection molding, metal stamping, electromechanical assembly, final product assembly, testing, packaging and fulfillment.

Key Tronic serves customers across industries such as consumer electronics, industrial equipment, medical devices, aerospace and defense, automotive and computer-related products.

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