Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Decline in Short Interest

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

Hedge Funds Weigh In On Kimball Electronics

A number of hedge funds have recently added to or reduced their stakes in KE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kimball Electronics by 17.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,200 shares of the electronics maker’s stock valued at $2,102,000 after acquiring an additional 16,674 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Kimball Electronics by 116.8% during the fourth quarter. Two Sigma Advisers LP now owns 78,700 shares of the electronics maker’s stock valued at $1,474,000 after purchasing an additional 42,400 shares during the last quarter. Two Sigma Investments LP lifted its position in Kimball Electronics by 37.2% during the fourth quarter. Two Sigma Investments LP now owns 85,364 shares of the electronics maker’s stock valued at $1,599,000 after purchasing an additional 23,168 shares during the period. Sherbrooke Park Advisers LLC boosted its holdings in Kimball Electronics by 8.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,006 shares of the electronics maker’s stock worth $375,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Kimball Electronics by 17.0% in the 4th quarter. Point72 Asset Management L.P. now owns 10,889 shares of the electronics maker’s stock worth $204,000 after purchasing an additional 1,584 shares during the period. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Stock Down 0.1 %

Shares of NASDAQ:KE traded down $0.01 during midday trading on Monday, reaching $17.08. The company’s stock had a trading volume of 59,776 shares, compared to its average volume of 119,977. 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 firm has a 50 day moving average of $18.44 and a 200-day moving average of $18.60. The firm has a market capitalization of $421.53 million, a P/E ratio of 53.38 and a beta of 1.24. Kimball Electronics has a 12-month low of $16.36 and a 12-month high of $24.45.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.47% and a net margin of 0.51%. On average, research analysts anticipate that Kimball Electronics will post 1.02 earnings per share for the current year.

Analysts Set New Price Targets

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

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.