Key Tronic Corporation (NASDAQ:KTCC) Sees Large Decrease in Short Interest

Key Tronic Corporation (NASDAQ:KTCC) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 21,768 shares, a decline of 50.1% from the August 31st total of 43,603 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 34,496 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Key Tronic in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Key Tronic has a consensus rating of “Sell”.

Hedge Funds Weigh In On Key Tronic

Large investors have recently made changes to their positions in the stock. Tieton Capital Management LLC bought a new stake in shares of Key Tronic during the 2nd quarter valued at $3,143,000. Sei Investments Co. boosted its stake in 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 purchasing an additional 177,591 shares during the period. BlackRock Inc. bought a new position in Key Tronic in the 2nd quarter worth about $533,000. Bank of New York Mellon Corp purchased a new position in Key Tronic during the 2nd quarter valued at about $95,000. Finally, Susquehanna International Group LLP purchased a new position in Key Tronic during the 2nd quarter valued at about $57,000. 40.69% of the stock is owned by institutional investors.

Key Tronic Stock Performance

NASDAQ:KTCC traded up $0.07 on Thursday, reaching $2.15. 15,842 shares of the company’s stock were exchanged, compared to its average volume of 19,648. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.10 and a quick ratio of 1.20. The firm has a market cap of $23.79 million, a price-to-earnings ratio of -0.49 and a beta of 1.14. Key Tronic has a 52 week low of $2.05 and a 52 week high of $4.42. The stock has a fifty day simple moving average of $3.16 and a 200-day simple moving average of $3.27.

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

Key Tronic Company Profile

Key Tronic Corporation is an electronics manufacturing services (EMS) provider that designs, engineers, manufactures and distributes electronic and mechanical products for original equipment manufacturers. The company offers integrated production capabilities that can include printed circuit board assembly, product and tooling design, injection molding, metal stamping, electromechanical assembly, final product assembly, testing, packaging and fulfillment.

Key Tronic serves customers across industries such as consumer electronics, industrial equipment, medical devices, aerospace and defense, automotive and computer-related products.