Kimball Electronics, Inc. (NASDAQ:KE) Sees Large Decrease in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 413,500 shares, a decline of 14.7% from the January 15th total of 484,700 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 121,200 shares, the days-to-cover ratio is presently 3.4 days.

Kimball Electronics Trading Down 0.1 %

Shares of KE stock traded down $0.01 during mid-day trading on Monday, hitting $17.08. 59,776 shares of the company’s stock were exchanged, compared to its average volume of 119,977. Kimball Electronics has a fifty-two week low of $16.36 and a fifty-two week high of $24.45. The stock has a 50-day simple moving average of $18.44 and a two-hundred day simple moving average of $18.60. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37. The stock has a market cap of $421.53 million, a price-to-earnings ratio of 53.38 and a beta of 1.24.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.47% and a net margin of 0.51%. Equities analysts expect that Kimball Electronics will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

KE has been the topic of several recent research reports. StockNews.com upgraded Kimball Electronics from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Lake Street Capital lowered their price objective on Kimball Electronics from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Institutional Trading of Kimball Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of KE. Arrowstreet Capital Limited Partnership boosted its stake in Kimball Electronics by 239.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 200,362 shares of the electronics maker’s stock valued at $3,753,000 after acquiring an additional 141,411 shares during the period. Vanguard Group Inc. boosted its position in shares of Kimball Electronics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,945,556 shares of the electronics maker’s stock worth $36,440,000 after buying an additional 92,166 shares during the period. Grace & White Inc. NY increased its holdings in shares of Kimball Electronics by 38.5% in the third quarter. Grace & White Inc. NY now owns 256,777 shares of the electronics maker’s stock valued at $4,753,000 after buying an additional 71,400 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kimball Electronics by 142.1% in the fourth quarter. JPMorgan Chase & Co. now owns 113,208 shares of the electronics maker’s stock valued at $2,120,000 after buying an additional 66,444 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Kimball Electronics in the fourth quarter valued at $1,147,000. 75.99% of the stock is owned by hedge funds and other institutional investors.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.