Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Drop in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 413,500 shares, a drop of 14.7% from the January 15th total of 484,700 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average trading volume of 121,200 shares, the short-interest ratio is presently 3.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of Kimball Electronics in the third quarter valued at $25,000. nVerses Capital LLC bought a new stake in shares of Kimball Electronics in the third quarter valued at $48,000. Quest Partners LLC bought a new stake in shares of Kimball Electronics in the third quarter valued at $61,000. KLP Kapitalforvaltning AS bought a new stake in shares of Kimball Electronics in the fourth quarter valued at $82,000. Finally, Aquatic Capital Management LLC raised its stake in shares of Kimball Electronics by 211.6% in the fourth quarter. Aquatic Capital Management LLC now owns 8,726 shares of the electronics maker’s stock valued at $163,000 after buying an additional 5,926 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Kimball Electronics Stock Performance

KE stock traded down $0.01 during midday trading on Monday, hitting $17.08. The company’s stock had a trading volume of 59,776 shares, compared to its average volume of 119,977. The stock’s 50-day moving average price is $18.44 and its 200 day moving average price is $18.60. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37. Kimball Electronics has a 1 year low of $16.36 and a 1 year high of $24.45. The stock has a market cap of $421.53 million, a price-to-earnings ratio of 53.38 and a beta of 1.24.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.47% and a net margin of 0.51%. On average, equities analysts forecast that Kimball Electronics will post 1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KE. Lake Street Capital cut their target price on Kimball Electronics from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. StockNews.com raised Kimball Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Kimball Electronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.