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

Kewaunee Scientific Co. (NASDAQ:KEQU) was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 15,400 shares, a decline of 36.6% from the July 31st total of 24,300 shares. Based on an average daily trading volume, of 26,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Kewaunee Scientific from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Kewaunee Scientific Trading Down 1.7 %

KEQU traded down $0.93 during trading on Thursday, reaching $54.21. 1,771 shares of the company’s stock were exchanged, compared to its average volume of 15,196. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.76 and a current ratio of 2.28. Kewaunee Scientific has a fifty-two week low of $15.47 and a fifty-two week high of $55.62. The company’s fifty day moving average price is $48.19 and its 200-day moving average price is $39.63. The firm has a market capitalization of $153.96 million, a PE ratio of 8.68 and a beta of 0.77.

Kewaunee Scientific (NASDAQ:KEQU) last announced its earnings results on Wednesday, June 26th. The technology company reported $1.55 earnings per share for the quarter. The firm had revenue of $56.70 million during the quarter. Kewaunee Scientific had a net margin of 9.20% and a return on equity of 28.58%.

Hedge Funds Weigh In On Kewaunee Scientific

A number of large investors have recently modified their holdings of the business. Heron Bay Capital Management acquired a new position in shares of Kewaunee Scientific during the 2nd quarter worth about $252,000. Dimensional Fund Advisors LP boosted its stake in shares of Kewaunee Scientific by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock worth $8,378,000 after buying an additional 6,132 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Kewaunee Scientific during the 2nd quarter worth about $413,000. Finally, Renaissance Technologies LLC boosted 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 buying an additional 10,580 shares during the last quarter. 32.69% of the stock is currently owned by institutional investors and hedge funds.

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.