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

Kewaunee Scientific Co. (NASDAQ:KEQU) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 46,500 shares, a drop of 24.0% from the February 13th total of 61,200 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average trading volume of 27,200 shares, the days-to-cover ratio is currently 1.7 days.

Kewaunee Scientific Price Performance

KEQU stock traded down $1.36 on Tuesday, reaching $49.69. 31,954 shares of the company’s stock were exchanged, compared to its average volume of 22,287. The stock has a fifty day moving average of $58.39 and a 200-day moving average of $47.80. The firm has a market cap of $142.71 million, a PE ratio of 7.87 and a beta of 0.71. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 0.45. Kewaunee Scientific has a twelve month low of $30.82 and a twelve month high of $71.33.

Kewaunee Scientific (NASDAQ:KEQU) last posted its quarterly earnings results on Wednesday, March 12th. The technology company reported $1.09 earnings per share for the quarter. The business had revenue of $67.17 million for the quarter. Kewaunee Scientific had a net margin of 9.39% and a return on equity of 25.83%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Kewaunee Scientific from a “buy” rating to a “hold” rating in a report on Friday.

Insiders Place Their Bets

In related news, VP Douglas J. Batdorff sold 3,470 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $65.50, for a total transaction of $227,285.00. Following the completion of the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at $327,500. This trade represents a 40.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Donald T. Gardner III sold 2,049 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $58.19, for a total transaction of $119,231.31. Following the completion of the transaction, the chief financial officer now directly owns 22,615 shares in the company, valued at $1,315,966.85. This represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,144 shares of company stock valued at $629,216. 14.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kewaunee Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of KEQU. Bank of America Corp DE raised its holdings in Kewaunee Scientific by 2,605.9% during the fourth 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 during the last quarter. IFP Advisors Inc purchased a new position in shares of Kewaunee Scientific in the fourth quarter valued at $36,000. JPMorgan Chase & Co. raised its stake in shares of Kewaunee Scientific by 18,000.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 905 shares of the technology company’s stock worth $30,000 after buying an additional 900 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Kewaunee Scientific in the 4th quarter worth about $106,000. Finally, Barclays PLC acquired a new stake in Kewaunee Scientific in the 3rd quarter valued at about $121,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.

Kewaunee Scientific Company Profile

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.