Key Tronic Corporation (NASDAQ:KTCC) Shares Shorted: Short Interest Down 50.1% in September

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Key Tronic

A number of large investors have recently modified their holdings of KTCC. Tieton Capital Management LLC acquired a new position in Key Tronic during the 2nd quarter valued at about $3,143,000. Sei Investments Co. grew its position in shares of Key Tronic by 105.7% during 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 stake in shares of Key Tronic during the second quarter worth approximately $533,000. Bank of New York Mellon Corp acquired a new position in Key Tronic in the second quarter valued at approximately $95,000. Finally, Susquehanna International Group LLP bought a new position in Key Tronic in the second quarter valued at approximately $57,000. 40.69% of the stock is currently owned by institutional investors and hedge funds.

Key Tronic Price Performance

NASDAQ:KTCC traded down $0.02 during trading hours on Wednesday, reaching $2.08. The company had a trading volume of 6,584 shares, compared to its average volume of 19,679. The company has a quick ratio of 1.20, a current ratio of 2.10 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average of $3.16 and a two-hundred day moving average of $3.27. Key Tronic has a one year low of $2.05 and a one year high of $4.42. The firm has a market capitalization of $23.03 million, a PE ratio of -0.47 and a beta of 1.14.

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

About Key Tronic

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.