Kewaunee Scientific (NASDAQ:KEQU) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Kewaunee Scientific Corporation (NASDAQ:KEQU)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $37.84 and traded as low as $35.97. Kewaunee Scientific shares last traded at $36.31, with a volume of 5,926 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kewaunee Scientific in a report on Tuesday, June 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Kewaunee Scientific has a consensus rating of “Hold”.

Kewaunee Scientific Trading Down 0.4%

The business has a 50 day simple moving average of $37.67 and a 200 day simple moving average of $37.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.18 and a quick ratio of 1.55. The company has a market cap of $104.21 million, a price-to-earnings ratio of 11.28 and a beta of 0.71.

Kewaunee Scientific (NASDAQ:KEQU) last announced its earnings results on Tuesday, June 23rd. The technology company reported $1.14 earnings per share for the quarter. Kewaunee Scientific had a return on equity of 14.10% and a net margin of 3.41%.The company had revenue of $71.40 million during the quarter. During the same quarter last year, the business posted $1.95 earnings per share.

Institutional Investors Weigh In On Kewaunee Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. raised its stake in shares of Kewaunee Scientific by 23.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 100,702 shares of the technology company’s stock worth $3,451,000 after acquiring an additional 18,867 shares during the last quarter. Barclays PLC bought a new stake in shares of Kewaunee Scientific during the fourth quarter valued at approximately $92,000. State Street Corp increased its holdings in shares of Kewaunee Scientific by 4.2% in the fourth quarter. State Street Corp now owns 10,034 shares of the technology company’s stock valued at $375,000 after purchasing an additional 400 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Kewaunee Scientific by 18.0% in the fourth quarter. Royce & Associates LP now owns 46,000 shares of the technology company’s stock valued at $1,721,000 after purchasing an additional 7,010 shares in the last quarter. Finally, Minerva Advisors LLC increased its holdings in shares of Kewaunee Scientific by 51.8% in the fourth quarter. Minerva Advisors LLC now owns 121,863 shares of the technology company’s stock valued at $4,559,000 after purchasing an additional 41,589 shares in the last quarter. Institutional investors and hedge funds own 32.69% of the company’s stock.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.