Short Interest in Kewaunee Scientific Co. (NASDAQ:KEQU) Drops By 20.1%

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

Kewaunee Scientific Price Performance

Shares of Kewaunee Scientific stock traded down $0.61 on Friday, hitting $53.39. 30,281 shares of the company were exchanged, compared to its average volume of 17,189. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $37.19 and a 200 day moving average price of $42.05. The stock has a market capitalization of $153.34 million, a price-to-earnings ratio of 8.46 and a beta of 0.80. Kewaunee Scientific has a 1-year low of $22.59 and a 1-year high of $55.62.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC acquired a new position in Kewaunee Scientific in the third quarter valued at approximately $121,000. Heron Bay Capital Management purchased a new stake in Kewaunee Scientific in the second quarter valued at $252,000. State Street Corp acquired a new position in shares of Kewaunee Scientific in the 3rd quarter valued at $266,000. Ritholtz Wealth Management grew its holdings in shares of Kewaunee Scientific by 24.6% during the 3rd quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company’s stock worth $363,000 after purchasing 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. Hedge funds and other institutional investors own 32.69% of the company’s stock.

Analyst Ratings Changes

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

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.