Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Drop in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 413,500 shares, a decline of 14.7% from the January 15th total of 484,700 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 121,200 shares, the days-to-cover ratio is presently 3.4 days.

Analysts Set New Price Targets

Several analysts have weighed in on KE shares. Lake Street Capital dropped their price objective on Kimball Electronics from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com raised Kimball Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.75.

Kimball Electronics Stock Down 0.1 %

Shares of KE traded down $0.01 on Monday, hitting $17.08. The company’s stock had a trading volume of 59,776 shares, compared to its average volume of 119,977. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $18.44 and its 200-day moving average price is $18.60. Kimball Electronics has a fifty-two week low of $16.36 and a fifty-two week high of $24.45. The firm has a market capitalization of $421.53 million, a price-to-earnings ratio of 53.38 and a beta of 1.24.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.47% and a net margin of 0.51%. On average, equities research analysts expect that Kimball Electronics will post 1.02 EPS for the current year.

Hedge Funds Weigh In On Kimball Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in Kimball Electronics during the 3rd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Kimball Electronics during the 3rd quarter worth approximately $48,000. Quest Partners LLC acquired a new position in Kimball Electronics during the 3rd quarter worth approximately $61,000. KLP Kapitalforvaltning AS acquired a new position in Kimball Electronics during the 4th quarter worth approximately $82,000. Finally, SG Americas Securities LLC boosted its position in Kimball Electronics by 78.5% during the 3rd quarter. SG Americas Securities LLC now owns 8,755 shares of the electronics maker’s stock worth $162,000 after acquiring an additional 3,849 shares during the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.