Key Tronic (NASDAQ:KTCC) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Key Tronic Corporation (NASDAQ:KTCC) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.35 and traded as low as $2.33. Key Tronic shares last traded at $2.39, with a volume of 22,501 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Key Tronic in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Key Tronic Price Performance

The company has a market cap of $25.95 million, a PE ratio of -0.54 and a beta of 1.14. The firm’s 50-day moving average is $3.65 and its 200-day moving average is $3.33. The company has a quick ratio of 1.21, a current ratio of 2.06 and a debt-to-equity ratio of 0.95.

Key Tronic (NASDAQ:KTCC) last issued its quarterly earnings data on Thursday, August 27th. The technology company reported ($0.26) EPS for the quarter. Key Tronic had a negative return on equity of 6.42% and a negative net margin of 12.36%.The company had revenue of $102.03 million during the quarter.

Institutional Investors Weigh In On Key Tronic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KTCC. Tieton Capital Management LLC purchased a new position in Key Tronic during the second quarter valued at $3,143,000. Sei Investments Co. grew its position in shares of Key Tronic by 105.7% in the 1st quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock worth $944,000 after buying an additional 177,591 shares during the period. BlackRock Inc. bought a new position in shares of Key Tronic in the 2nd quarter worth about $533,000. Moors & Cabot Inc. increased its stake in shares of Key Tronic by 27.8% in the 3rd quarter. Moors & Cabot Inc. now owns 162,950 shares of the technology company’s stock worth $582,000 after acquiring an additional 35,400 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Key Tronic during the 2nd quarter valued at about $95,000. 40.69% of the stock is owned by hedge funds and other institutional investors.

Key Tronic Company Profile

Key Tronic Corporation (NASDAQ: KTCC) is a global electronics manufacturer headquartered in Spokane, Washington. The company specializes in the design, development and production of human-machine interfaces and input devices, with a core legacy in keyboard technology. Over more than five decades, Key Tronic has expanded its capabilities beyond keyboards to encompass a broad range of electronic assemblies for OEMs across computing, industrial, medical and consumer markets.

Key Tronic’s product portfolio includes membrane and mechanical keyboards, touch panels, silicone keypads and custom input solutions tailored to customer specifications.