Kewaunee Scientific Co. (NASDAQ:KEQU) Sees Significant Drop in Short Interest

Kewaunee Scientific Co. (NASDAQ:KEQU) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 19,600 shares, a drop of 17.3% from the August 31st total of 23,700 shares. Based on an average daily trading volume, of 33,500 shares, the short-interest ratio is currently 0.6 days. Approximately 0.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KEQU. Heron Bay Capital Management bought a new stake in Kewaunee Scientific during the second quarter worth approximately $252,000. Renaissance Technologies LLC boosted its holdings 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 buying an additional 10,580 shares during the period. Dimensional Fund Advisors LP grew its stake in Kewaunee Scientific by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock valued at $8,378,000 after buying an additional 6,132 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in Kewaunee Scientific in the 2nd quarter worth $413,000. Institutional investors and hedge funds own 32.69% of the company’s stock.

Kewaunee Scientific Price Performance

Shares of KEQU opened at $34.27 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.00 and a current ratio of 2.53. The firm has a market cap of $97.33 million, a PE ratio of 5.40 and a beta of 0.74. The firm’s 50 day moving average price is $47.34 and its 200 day moving average price is $41.66. Kewaunee Scientific has a twelve month low of $16.51 and a twelve month high of $55.62.

Analysts Set New Price Targets

Separately, StockNews.com lowered Kewaunee Scientific from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th.

Kewaunee Scientific Company Profile

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.