Kewaunee Scientific Co. (NASDAQ:KEQU) Short Interest Update

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 40,100 shares, an increase of 23.8% from the October 15th total of 32,400 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily volume of 22,500 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Kewaunee Scientific from a “hold” rating to a “buy” rating in a report on Saturday.

Kewaunee Scientific Stock Performance

Kewaunee Scientific stock traded down $0.19 during midday trading on Friday, hitting $37.90. 6,164 shares of the company were exchanged, compared to its average volume of 13,719. The business has a fifty day simple moving average of $34.92 and a two-hundred day simple moving average of $41.56. Kewaunee Scientific has a fifty-two week low of $16.51 and a fifty-two week high of $55.62. The firm has a market capitalization of $108.77 million, a PE ratio of 6.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.00 and a current ratio of 2.53.

Kewaunee Scientific (NASDAQ:KEQU) last announced its quarterly earnings results on Wednesday, September 11th. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $48.39 million during the quarter. Kewaunee Scientific had a net margin of 9.13% and a return on equity of 25.87%.

Institutional Investors Weigh In On Kewaunee Scientific

Several hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of Kewaunee Scientific during the 3rd quarter valued at approximately $121,000. Heron Bay Capital Management acquired a new stake in Kewaunee Scientific in the 2nd quarter worth about $252,000. State Street Corp acquired a new position in Kewaunee Scientific during the third quarter worth approximately $266,000. Ritholtz Wealth Management raised its position in shares of Kewaunee Scientific by 24.6% in the 3rd quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company’s stock worth $363,000 after buying an additional 2,156 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Kewaunee Scientific by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 23,784 shares of the technology company’s stock worth $792,000 after purchasing an additional 1,941 shares during the period. Institutional investors and hedge funds own 32.69% of the company’s stock.

About Kewaunee Scientific

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.