Kewaunee Scientific Co. (NASDAQ:KEQU) Short Interest Up 25.3% in March

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 55,000 shares, an increase of 25.3% from the March 15th total of 43,900 shares. Based on an average daily volume of 26,300 shares, the short-interest ratio is presently 2.1 days. Approximately 2.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com lowered Kewaunee Scientific from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Kewaunee Scientific Stock Performance

Shares of NASDAQ:KEQU opened at $31.88 on Tuesday. The business has a fifty day moving average of $45.84 and a 200-day moving average of $47.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.13 and a current ratio of 2.64. Kewaunee Scientific has a twelve month low of $30.00 and a twelve month high of $71.33. The firm has a market cap of $91.02 million, a PE ratio of 5.05 and a beta of 0.59.

Kewaunee Scientific (NASDAQ:KEQU) last announced its earnings results on Wednesday, March 12th. The technology company reported $1.09 earnings per share for the quarter. Kewaunee Scientific had a net margin of 9.39% and a return on equity of 25.83%. The company had revenue of $67.17 million during the quarter.

Insiders Place Their Bets

In other Kewaunee Scientific news, CEO Thomas David Hull III sold 3,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $45.63, for a total transaction of $136,890.00. Following the completion of the transaction, the chief executive officer now directly owns 37,916 shares in the company, valued at $1,730,107.08. This represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith M. Gehl bought 1,000 shares of Kewaunee Scientific stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $35.00 per share, for a total transaction of $35,000.00. Following the purchase, the director now directly owns 18,500 shares in the company, valued at $647,500. This represents a 5.71 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 11,057 shares of company stock worth $440,326 over the last quarter. Company insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KEQU. Bank of America Corp DE lifted its stake in shares of Kewaunee Scientific by 2,605.9% during the fourth quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock valued at $28,000 after acquiring an additional 443 shares during the period. IFP Advisors Inc bought a new stake in Kewaunee Scientific during the 4th quarter worth about $36,000. O Shaughnessy Asset Management LLC raised its holdings in Kewaunee Scientific by 3.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,008 shares of the technology company’s stock worth $1,733,000 after purchasing an additional 891 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Kewaunee Scientific by 18,000.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 905 shares of the technology company’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Kewaunee Scientific by 15.6% in the 4th quarter. Ritholtz Wealth Management now owns 12,619 shares of the technology company’s stock valued at $781,000 after purchasing an additional 1,706 shares during the last quarter. 32.69% of the stock is currently owned by institutional investors.

About Kewaunee Scientific

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.