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

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 32,100 shares, a drop of 20.1% from the November 15th total of 40,200 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 19,300 shares, the short-interest ratio is presently 1.7 days.

Kewaunee Scientific Price Performance

Shares of KEQU traded down $0.61 during trading hours on Friday, reaching $53.39. The company had a trading volume of 30,281 shares, compared to its average volume of 17,189. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.48. Kewaunee Scientific has a 12-month low of $22.59 and a 12-month high of $55.62. The firm has a 50 day simple moving average of $37.63 and a 200-day simple moving average of $42.15. The company has a market capitalization of $153.34 million, a price-to-earnings ratio of 8.46 and a beta of 0.80.

Kewaunee Scientific (NASDAQ:KEQU) last posted its quarterly earnings results on Wednesday, September 11th. The technology company reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $48.39 million during the quarter. Kewaunee Scientific had a net margin of 9.39% and a return on equity of 27.38%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Kewaunee Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Institutional Trading of Kewaunee Scientific

Several large investors have recently bought and sold shares of KEQU. Ritholtz Wealth Management purchased a new stake in shares of Kewaunee Scientific in the 2nd quarter worth about $413,000. Dimensional Fund Advisors LP grew its position in shares of Kewaunee Scientific by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock valued at $8,378,000 after purchasing an additional 6,132 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Kewaunee Scientific by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock worth $4,230,000 after purchasing an additional 10,580 shares in the last quarter. Heron Bay Capital Management purchased a new position in shares of Kewaunee Scientific during the 2nd quarter worth approximately $252,000. Finally, De Lisle Partners LLP increased its stake in shares of Kewaunee Scientific by 36.6% during the 3rd quarter. De Lisle Partners LLP now owns 42,958 shares of the technology company’s stock worth $1,446,000 after purchasing an additional 11,511 shares in the last quarter. 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.