Short Interest in Knife River Co. (NYSE:KNF) Grows By 6.2%

Knife River Co. (NYSE:KNF) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,710,000 shares, an increase of 6.2% from the December 15th total of 1,610,000 shares. Based on an average daily volume of 426,400 shares, the days-to-cover ratio is presently 4.0 days.

Knife River Trading Up 0.6 %

Shares of KNF opened at $104.91 on Tuesday. Knife River has a 1-year low of $62.10 and a 1-year high of $108.39. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.20 and a beta of 0.78. The firm’s 50-day moving average price is $101.46 and its 200-day moving average price is $89.67. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last posted its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Sell-side analysts anticipate that Knife River will post 3.49 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on KNF shares. DA Davidson increased their price target on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their target price on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Knife River currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Institutional Trading of Knife River

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Huntington National Bank boosted its position in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River in the 2nd quarter worth approximately $43,000. Harvest Fund Management Co. Ltd bought a new position in Knife River during the 3rd quarter valued at approximately $60,000. Finally, Sittner & Nelson LLC raised its stake in Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after buying an additional 150 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.