Short Interest in Kewaunee Scientific Corporation (NASDAQ:KEQU) Increases By 32.9%

Key Points

• Kewaunee Scientific Corporation experienced a **32.9% increase** in short interest, totaling **53,300 shares** as of August 15th, compared to the previous month.
• Corporate insider sales included CFO Donald T. Gardner III selling **3,000 shares** at an average price of **$58.59**, reducing his ownership by **17.08%**.
• Analysts have upgraded Kewaunee Scientific from a **"hold" to a "buy"** rating, signaling positive sentiment towards the company's future performance.

Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 53,300 shares, an increase of 32.9% from the July 31st total of 40,100 shares. Based on an average trading volume of 11,200 shares, the days-to-cover ratio is currently 4.8 days. Approximately 2.5% of the company's shares are short sold. Approximately 2.5% of the company's shares are short sold. Based on an average trading volume of 11,200 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Kewaunee Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

Kewaunee Scientific Stock Down 1.6%

Shares of NASDAQ:KEQU traded down $0.69 during trading on Friday, reaching $42.39. The stock had a trading volume of 25,285 shares, compared to its average volume of 11,361. Kewaunee Scientific has a one year low of $30.33 and a one year high of $71.33. The company has a market capitalization of $125.05 million, a P/E ratio of 10.26 and a beta of 0.75. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 0.92. The firm's 50-day simple moving average is $55.86 and its 200 day simple moving average is $45.84.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last released its earnings results on Wednesday, September 10th. The technology company reported $1.10 EPS for the quarter. The company had revenue of $71.10 million during the quarter. Kewaunee Scientific had a net margin of 4.68% and a return on equity of 26.25%.

Insider Buying and Selling at Kewaunee Scientific

In other news, CFO Donald T. Gardner III sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $58.59, for a total value of $175,770.00. Following the sale, the chief financial officer owned 14,564 shares of the company's stock, valued at approximately $853,304.76. This represents a 17.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.30% of the company's stock.

Institutional Trading of Kewaunee Scientific

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in Kewaunee Scientific by 2,605.9% in 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 in the last quarter. IFP Advisors Inc increased its holdings in Kewaunee Scientific by 61.5% in the 1st quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock worth $37,000 after acquiring an additional 360 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Kewaunee Scientific in the 2nd quarter worth $60,000. Wedbush Securities Inc. purchased a new stake in Kewaunee Scientific in the 2nd quarter worth $232,000. Finally, Morgan Dempsey Capital Management LLC boosted its stake in Kewaunee Scientific by 41.8% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 4,229 shares of the technology company's stock worth $247,000 after purchasing an additional 1,247 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.