Kewaunee Scientific Co. (NASDAQ:KEQU) Short Interest Up 68.9% in September

Kewaunee Scientific Co. (NASDAQ:KEQU) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 33,100 shares, a growth of 68.9% from the September 15th total of 19,600 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 30,900 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management lifted its position in Kewaunee Scientific by 24.6% during the third quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company’s stock valued at $363,000 after purchasing an additional 2,156 shares during the last quarter. Heron Bay Capital Management bought a new stake in shares of Kewaunee Scientific during the 2nd quarter worth $252,000. Dimensional Fund Advisors LP grew its position in Kewaunee Scientific by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock worth $8,378,000 after acquiring an additional 6,132 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Kewaunee Scientific by 13.4% in the second quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock worth $4,230,000 after acquiring an additional 10,580 shares in the last quarter. Hedge funds and other institutional investors own 32.69% of the company’s stock.

Kewaunee Scientific Price Performance

NASDAQ KEQU traded up $0.03 on Monday, hitting $33.03. The stock had a trading volume of 7,181 shares, compared to its average volume of 17,701. The firm has a 50-day moving average of $43.04 and a 200-day moving average of $41.75. 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 has a 52-week low of $16.51 and a 52-week high of $55.62. The company has a market capitalization of $93.81 million, a price-to-earnings ratio of 5.20 and a beta of 0.72.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Kewaunee Scientific from a “strong-buy” rating to a “buy” rating in a 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.