Short Interest in Kewaunee Scientific Co. (NASDAQ:KEQU) Rises By 25.3%

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 55,000 shares, a growth of 25.3% from the March 15th total of 43,900 shares. Based on an average trading volume of 26,300 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.6% of the company’s stock are sold short.

Insider Buying and Selling at Kewaunee Scientific

In other Kewaunee Scientific news, CEO Thomas David Hull III sold 1,844 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $32.44, for a total value of $59,819.36. Following the completion of the sale, the chief executive officer now owns 36,072 shares of the company’s stock, valued at $1,170,175.68. The trade was a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald T. Gardner III sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $37.75, for a total value of $113,250.00. Following the completion of the sale, the chief financial officer now owns 15,358 shares of the company’s stock, valued at approximately $579,764.50. This trade represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,057 shares of company stock worth $440,326 over the last ninety days. 14.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kewaunee Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEQU. Invesco Ltd. acquired a new stake in shares of Kewaunee Scientific during the 4th quarter worth approximately $6,545,000. Marshall Wace LLP bought a new stake in Kewaunee Scientific in the 4th quarter valued at $736,000. Truffle Hound Capital LLC acquired a new position in shares of Kewaunee Scientific in the 4th quarter valued at $619,000. State Street Corp bought a new position in shares of Kewaunee Scientific during the 3rd quarter worth about $266,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Kewaunee Scientific during the 4th quarter valued at about $338,000. 32.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Kewaunee Scientific from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Kewaunee Scientific Stock Performance

Shares of KEQU stock traded down $0.85 during trading hours on Friday, reaching $33.44. 9,461 shares of the company’s stock were exchanged, compared to its average volume of 23,965. The business has a fifty day moving average price of $46.51 and a 200-day moving average price of $47.37. The stock has a market capitalization of $95.47 million, a P/E ratio of 5.30 and a beta of 0.59. 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 fifty-two week low of $30.82 and a fifty-two week high of $71.33.

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

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.