Key Tronic Co. (NASDAQ:KTCC) Short Interest Down 40.8% in March

Key Tronic Co. (NASDAQ:KTCC) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 7,100 shares, a drop of 40.8% from the March 15th total of 12,000 shares. Based on an average trading volume of 34,900 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Trading of Key Tronic

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Key Tronic during the third quarter worth approximately $63,000. Northern Trust Corp lifted its holdings in Key Tronic by 59.3% during the 4th quarter. Northern Trust Corp now owns 52,423 shares of the technology company’s stock worth $219,000 after purchasing an additional 19,513 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Key Tronic by 63.5% in the 4th quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock valued at $397,000 after purchasing an additional 37,000 shares during the period. Geode Capital Management LLC grew its holdings in Key Tronic by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,778 shares of the technology company’s stock valued at $537,000 after buying an additional 7,636 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its position in Key Tronic by 9.3% during the 4th quarter. Kennedy Capital Management LLC now owns 141,625 shares of the technology company’s stock worth $591,000 after buying an additional 12,023 shares during the period. Institutional investors and hedge funds own 40.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Key Tronic in a research note on Sunday. They issued a “strong-buy” rating on the stock.

Key Tronic Stock Performance

KTCC stock traded up $0.08 during trading hours on Thursday, reaching $2.39. The stock had a trading volume of 6,110 shares, compared to its average volume of 26,816. The stock has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $4.21. Key Tronic has a fifty-two week low of $2.21 and a fifty-two week high of $6.14. The stock has a market capitalization of $25.72 million, a PE ratio of -4.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.78 and a quick ratio of 1.71.

Key Tronic (NASDAQ:KTCC) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.38) earnings per share (EPS) for the quarter. Key Tronic had a negative net margin of 1.17% and a negative return on equity of 3.23%.

Key Tronic Company Profile

Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; prototype design; and full product assembly services.