Kewaunee Scientific Co. (NASDAQ:KEQU) Sees Significant Growth in Short Interest

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

Kewaunee Scientific Stock Performance

NASDAQ:KEQU traded down $0.85 during midday trading on Friday, reaching $33.44. 9,461 shares of the company traded hands, compared to its average volume of 23,965. Kewaunee Scientific has a twelve month low of $30.82 and a twelve month high of $71.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.64 and a quick ratio of 2.13. The company has a fifty day moving average price of $46.51 and a 200 day moving average price of $47.37. The firm has a market capitalization of $95.47 million, a price-to-earnings ratio of 5.30 and a beta of 0.59.

Kewaunee Scientific (NASDAQ:KEQU) last released its quarterly earnings results on Wednesday, March 12th. The technology company reported $1.09 EPS for the quarter. The business 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%.

Insider Activity at Kewaunee Scientific

In other 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 transaction of $59,819.36. Following the completion of the sale, the chief executive officer now owns 36,072 shares in the company, valued at approximately $1,170,175.68. The trade was a 4.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donald T. Gardner III sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $37.75, for a total transaction of $113,250.00. Following the completion of the sale, the chief financial officer now owns 15,358 shares in the company, valued at approximately $579,764.50. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,057 shares of company stock worth $440,326. 14.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kewaunee Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Minerva Advisors LLC raised its stake in Kewaunee Scientific by 4.1% during the 4th quarter. Minerva Advisors LLC now owns 109,493 shares of the technology company’s stock valued at $6,668,000 after acquiring an additional 4,311 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Kewaunee Scientific in the fourth quarter worth about $6,545,000. American Century Companies Inc. raised its stake in Kewaunee Scientific by 18.0% during the 4th quarter. American Century Companies Inc. now owns 34,293 shares of the technology company’s stock valued at $2,122,000 after purchasing an additional 5,221 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Kewaunee Scientific by 3.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,008 shares of the technology company’s stock worth $1,733,000 after acquiring an additional 891 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Kewaunee Scientific by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,784 shares of the technology company’s stock valued at $792,000 after purchasing an additional 1,941 shares during the period. 32.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.