Short Interest in Kewaunee Scientific Co. (NASDAQ:KEQU) Expands By 25.3%

Kewaunee Scientific Co. (NASDAQ:KEQU - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 55,000 shares, an increase of 25.3% from the March 15th total of 43,900 shares. Approximately 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 26,300 shares, the days-to-cover ratio is presently 2.1 days.

Kewaunee Scientific Stock Performance

Shares of Kewaunee Scientific stock traded up $0.19 during trading on Friday, reaching $34.45. The company's stock had a trading volume of 9,155 shares, compared to its average volume of 23,963. Kewaunee Scientific has a one year low of $30.82 and a one year high of $71.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.13 and a current ratio of 2.64. The firm has a market cap of $98.35 million, a price-to-earnings ratio of 5.46 and a beta of 0.59. The business's fifty day moving average price is $43.29 and its 200-day moving average price is $47.32.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The technology company reported $1.09 EPS for the quarter. Kewaunee Scientific had a return on equity of 25.83% and a net margin of 9.39%. The company had revenue of $67.17 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Kewaunee Scientific from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Buying and Selling at Kewaunee Scientific

In other news, Director Keith M. Gehl purchased 1,000 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $35.00 per share, with a total value of $35,000.00. Following the purchase, the director now directly owns 18,500 shares of the company's stock, valued at approximately $647,500. This trade represents a 5.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas David Hull III sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $45.63, for a total value of $136,890.00. Following the completion of the sale, the chief executive officer now directly owns 37,916 shares of the company's stock, valued at approximately $1,730,107.08. The trade was a 7.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,057 shares of company stock worth $440,326. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kewaunee Scientific

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of Kewaunee Scientific by 2,605.9% during the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company's stock worth $28,000 after purchasing an additional 443 shares during the period. JPMorgan Chase & Co. grew its position in Kewaunee Scientific by 18,000.0% during the third quarter. JPMorgan Chase & Co. now owns 905 shares of the technology company's stock worth $30,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc bought a new position in Kewaunee Scientific during the fourth quarter valued at about $36,000. Morgan Dempsey Capital Management LLC acquired a new position in Kewaunee Scientific in the 4th quarter valued at approximately $106,000. Finally, Barclays PLC acquired a new position in Kewaunee Scientific in the 3rd quarter valued at approximately $121,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.

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.