Key Tronic Corporation (NASDAQ:KTCC) Sees Significant Decrease in Short Interest

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Key Tronic in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Key Tronic Stock Up 0.7%

NASDAQ:KTCC traded up $0.01 on Tuesday, hitting $2.12. The stock had a trading volume of 518 shares, compared to its average volume of 19,636. Key Tronic has a 1 year low of $2.08 and a 1 year high of $4.42. The firm’s fifty day simple moving average is $3.23 and its two-hundred day simple moving average is $3.28. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.20 and a current ratio of 2.10. The stock has a market cap of $23.41 million, a P/E ratio of -0.48 and a beta of 1.14.

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

Institutional Trading of Key Tronic

Large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in shares of Key Tronic during the 2nd quarter worth $57,000. Bank of New York Mellon Corp bought a new stake in Key Tronic in the 2nd quarter valued at about $95,000. BlackRock Inc. purchased a new stake in Key Tronic during the second quarter valued at about $533,000. Sei Investments Co. boosted its position in Key Tronic by 105.7% during the first quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock worth $944,000 after purchasing an additional 177,591 shares during the period. Finally, Tieton Capital Management LLC purchased a new position in shares of Key Tronic in the second quarter worth about $3,143,000. Hedge funds and other institutional investors own 40.69% of the company’s stock.

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.