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

Key Tronic Corporation (NASDAQ:KTCC) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 49,116 shares, a growth of 125.6% from the September 15th total of 21,768 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 32,433 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

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

Institutional Trading of Key Tronic

A number of large investors have recently made changes to their positions in the company. Tieton Capital Management LLC purchased a new position in Key Tronic in the second quarter worth approximately $3,143,000. Sei Investments Co. increased 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 valued at $944,000 after purchasing an additional 177,591 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Key Tronic in the 2nd quarter valued at approximately $57,000. BlackRock Inc. purchased a new stake in shares of Key Tronic in the 2nd quarter valued at approximately $533,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Key Tronic in the 2nd quarter valued at $95,000. 40.69% of the stock is currently owned by hedge funds and other institutional investors.

Key Tronic Stock Up 2.4%

Shares of NASDAQ KTCC traded up $0.05 during mid-day trading on Wednesday, hitting $2.14. The company had a trading volume of 29,041 shares, compared to its average volume of 19,587. The company has a market capitalization of $23.69 million, a PE ratio of -0.49 and a beta of 1.16. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.10 and a quick ratio of 1.20. Key Tronic has a 1-year low of $2.04 and a 1-year high of $4.42. The business’s 50-day simple moving average is $2.80 and its 200 day simple moving average is $3.23.

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

Key Tronic Company Profile

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.