Kewaunee Scientific Co. (NASDAQ:KEQU) Sees Significant Decrease in Short Interest

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 46,500 shares, a decline of 24.0% from the February 13th total of 61,200 shares. Based on an average daily trading volume, of 27,200 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.2% of the shares of the stock are short sold.

Kewaunee Scientific Trading Down 1.3 %

NASDAQ KEQU opened at $47.58 on Monday. The firm’s 50 day moving average price is $58.59 and its two-hundred day moving average price is $47.82. 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 $30.74 and a twelve month high of $71.33. The stock has a market cap of $136.65 million, a price-to-earnings ratio of 7.54 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Kewaunee Scientific from a “buy” rating to a “hold” rating in a research report on Friday.

Insiders Place Their Bets

In other Kewaunee Scientific news, VP Elizabeth D. Phillips sold 1,850 shares of Kewaunee Scientific stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $54.17, for a total transaction of $100,214.50. Following the transaction, the vice president now directly owns 13,591 shares in the company, valued at approximately $736,224.47. The trade was a 11.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas David Hull III sold 1,368 shares of Kewaunee Scientific stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $60.08, for a total transaction of $82,189.44. Following the transaction, the chief executive officer now owns 41,129 shares in the company, valued at approximately $2,471,030.32. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,994 shares of company stock worth $729,430. 14.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock valued at $28,000 after purchasing an additional 443 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kewaunee Scientific by 18,000.0% in 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 last quarter. IFP Advisors Inc acquired a new stake in shares of Kewaunee Scientific in the 4th quarter valued at $36,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Kewaunee Scientific in the 4th quarter valued at $106,000. Finally, Barclays PLC acquired a new stake in shares of Kewaunee Scientific in the 3rd quarter valued at $121,000. 32.69% of the stock is currently owned by hedge funds and other institutional investors.

Kewaunee Scientific Company Profile

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.