Kewaunee Scientific Co. (NASDAQ:KEQU) Sees Large Decline in Short Interest

Kewaunee Scientific Co. (NASDAQ:KEQU) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 10,500 shares, a drop of 7.1% from the October 15th total of 11,300 shares. Based on an average daily volume of 1,900 shares, the short-interest ratio is presently 5.5 days. Currently, 0.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of Kewaunee Scientific from a “c+” rating to a “b-” rating in a research report on Thursday, August 31st.

Insider Buying and Selling at Kewaunee Scientific

In other news, VP Elizabeth D. Phillips sold 1,557 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $17.56, for a total value of $27,340.92. Following the completion of the transaction, the vice president now owns 14,035 shares in the company, valued at $246,454.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in Kewaunee Scientific by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 185,989 shares of the technology company’s stock worth $3,273,000 after acquiring an additional 742 shares during the period. Minerva Advisors LLC lifted its stake in shares of Kewaunee Scientific by 0.9% during the 3rd quarter. Minerva Advisors LLC now owns 174,432 shares of the technology company’s stock valued at $2,843,000 after buying an additional 1,513 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Kewaunee Scientific by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 126,581 shares of the technology company’s stock worth $1,836,000 after buying an additional 1,683 shares during the period. Renaissance Technologies LLC increased its stake in Kewaunee Scientific by 0.7% in the 2nd quarter. Renaissance Technologies LLC now owns 98,111 shares of the technology company’s stock worth $1,631,000 after buying an additional 700 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Kewaunee Scientific by 58.2% during the second quarter. BlackRock Inc. now owns 13,102 shares of the technology company’s stock valued at $198,000 after acquiring an additional 4,822 shares during the period. 32.98% of the stock is owned by hedge funds and other institutional investors.

Kewaunee Scientific Stock Performance

Shares of NASDAQ KEQU traded up $0.79 during midday trading on Friday, hitting $18.80. 1,180 shares of the stock traded hands, compared to its average volume of 329. Kewaunee Scientific has a one year low of $14.56 and a one year high of $19.04. The firm has a 50-day moving average of $17.98 and a two-hundred day moving average of $16.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 2.11. The firm has a market capitalization of $54.51 million, a P/E ratio of 13.55 and a beta of 0.29.

Kewaunee Scientific (NASDAQ:KEQU) last released its quarterly earnings results on Thursday, August 31st. The technology company reported $0.86 earnings per share for the quarter. The business had revenue of $49.84 million for the quarter. Kewaunee Scientific had a net margin of 1.81% and a return on equity of 10.53%.

About Kewaunee Scientific

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.