Short Interest in Kewaunee Scientific Corporation (NASDAQ:KEQU) Grows By 66.4%

Kewaunee Scientific Corporation (NASDAQ:KEQU) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 35,595 shares, an increase of 66.4% from the November 30th total of 21,397 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 8,858 shares, the short-interest ratio is presently 4.0 days. Based on an average daily volume of 8,858 shares, the short-interest ratio is presently 4.0 days. Currently, 1.4% of the shares of the stock are sold short.

Kewaunee Scientific Trading Down 0.9%

Shares of NASDAQ KEQU traded down $0.35 during mid-day trading on Monday, reaching $37.65. 5,140 shares of the company’s stock were exchanged, compared to its average volume of 7,176. The company’s 50-day moving average is $40.09 and its 200-day moving average is $46.98. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.71 and a current ratio of 2.48. The firm has a market capitalization of $108.06 million, a price-to-earnings ratio of 9.56 and a beta of 0.61. Kewaunee Scientific has a 52-week low of $30.33 and a 52-week high of $71.33.

Kewaunee Scientific (NASDAQ:KEQU) last issued its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $70.10 million for the quarter. Kewaunee Scientific had a net margin of 4.11% and a return on equity of 22.39%. During the same quarter last year, the firm posted $1.01 earnings per share.

Insider Activity

In related news, CEO Thomas David Hull III sold 1,000 shares of Kewaunee Scientific stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.00, for a total value of $39,000.00. Following the sale, the chief executive officer directly owned 36,719 shares in the company, valued at approximately $1,432,041. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Elizabeth D. Phillips sold 6,880 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $43.20, for a total value of $297,216.00. Following the transaction, the vice president directly owned 8,248 shares of the company’s stock, valued at $356,313.60. The trade was a 45.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,880 shares of company stock worth $507,586 over the last 90 days. 13.30% of the stock is currently owned by company insiders.

Institutional Trading of Kewaunee Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position 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 worth $28,000 after buying an additional 443 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Kewaunee Scientific during the 3rd quarter valued at about $38,000. US Bancorp DE increased its stake in Kewaunee Scientific by 80.0% during the third quarter. US Bancorp DE now owns 900 shares of the technology company’s stock worth $38,000 after purchasing an additional 400 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Kewaunee Scientific during the second quarter worth about $60,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Kewaunee Scientific in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 32.69% of the company’s stock.

Wall Street Analyst Weigh In

KEQU has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Kewaunee Scientific in a report on Wednesday, October 8th. Wall Street Zen lowered Kewaunee Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

About Kewaunee Scientific

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.