Kewaunee Scientific (NASDAQ:KEQU) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Kewaunee Scientific Corporation (NASDAQ:KEQU) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $36.91 and traded as high as $36.97. Kewaunee Scientific shares last traded at $35.55, with a volume of 544 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kewaunee Scientific in a research report on Tuesday, June 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Kewaunee Scientific Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.20 and a quick ratio of 1.55. The stock’s 50-day moving average price is $36.61 and its 200-day moving average price is $36.88. The company has a market cap of $100.96 million, a P/E ratio of 12.64 and a beta of 0.73.

Kewaunee Scientific (NASDAQ:KEQU) last issued its quarterly earnings data on Wednesday, September 9th. The technology company reported $0.58 earnings per share for the quarter. The business had revenue of $66.32 million during the quarter. Kewaunee Scientific had a net margin of 2.97% and a return on equity of 11.61%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Minerva Advisors LLC boosted its position in Kewaunee Scientific by 51.8% in the fourth quarter. Minerva Advisors LLC now owns 121,863 shares of the technology company’s stock valued at $4,559,000 after buying an additional 41,589 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of Kewaunee Scientific during the 2nd quarter valued at $3,749,000. De Lisle Partners LLP bought a new stake in Kewaunee Scientific during the 2nd quarter worth $1,919,000. Royce & Associates LP grew its position in Kewaunee Scientific by 18.0% during the 4th quarter. Royce & Associates LP now owns 46,000 shares of the technology company’s stock worth $1,721,000 after acquiring an additional 7,010 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in Kewaunee Scientific in the 2nd quarter worth about $425,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.

About Kewaunee Scientific

Kewaunee Scientific Corporation designs, manufactures and installs laboratory, healthcare and technical furniture and related products. Its offerings include laboratory casework, steel and wood cabinets, countertops, sinks, storage systems, fume hoods, workstations and other specialized equipment used in research, education, healthcare, industrial and government facilities.

The company provides laboratory planning, design and installation services in addition to its manufactured products, supporting projects ranging from individual laboratory upgrades to larger, turnkey facilities.