Key Tronic (NASDAQ:KTCC) Shares Break Below 200-Day Moving Average – Here’s Why

Key Tronic Corporation (NASDAQ:KTCC)’s stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $3.21 and traded as low as $2.14. Key Tronic shares last traded at $2.16, with a volume of 13,127 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Key Tronic in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Key Tronic Stock Performance

The company has a current ratio of 2.10, a quick ratio of 1.20 and a debt-to-equity ratio of 1.50. The company’s fifty day moving average is $2.58 and its 200 day moving average is $3.21. The company has a market cap of $23.47 million, a P/E ratio of -0.48 and a beta of 1.16.

Key Tronic (NASDAQ:KTCC) last issued its earnings results on Thursday, August 27th. The technology company reported ($0.26) EPS for the quarter. The business had revenue of $102.03 million during the quarter. Key Tronic had a negative return on equity of 7.05% and a negative net margin of 12.36%.

Institutional Investors Weigh In On Key Tronic

A number of hedge funds and other institutional investors have recently modified their holdings of KTCC. Susquehanna International Group LLP bought a new position in Key Tronic during the 2nd quarter worth approximately $57,000. Tieton Capital Management LLC purchased a new position in Key Tronic in the 2nd quarter worth approximately $3,143,000. BlackRock Inc. purchased a new position in Key Tronic in the 2nd quarter worth approximately $533,000. Bank of New York Mellon Corp bought a new stake in Key Tronic in the second quarter valued at approximately $95,000. Finally, Sei Investments Co. lifted its position in Key Tronic by 105.7% in the first quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock valued at $944,000 after purchasing an additional 177,591 shares during the last quarter. Institutional investors own 40.69% of the company’s stock.

About Key Tronic

Key Tronic Corporation is an electronic manufacturing services provider that designs and manufactures products for original equipment manufacturers and other customers. The company offers integrated services spanning product design and engineering, prototyping, tooling, materials management, printed circuit board assembly, systems integration, final assembly, testing, packaging and fulfillment.

In addition to electronic assemblies, Key Tronic produces molded and painted plastic components, mechanical assemblies and complete finished products.