Kewaunee Scientific Corporation (NASDAQ:KEQU) Sees Significant Increase in Short Interest

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 recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 53,300 shares, anincreaseof32.9% from the July 31st total of 40,100 shares. Approximately2.5% of the company's stock are sold short. Based on an average daily volume of 11,200 shares, the short-interest ratio is currently 4.8 days. Based on an average daily volume of 11,200 shares, the short-interest ratio is currently 4.8 days. Approximately2.5% of the company's stock are sold short.

Insider Transactions at Kewaunee Scientific

In related 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 transaction of $175,770.00. Following the completion of the transaction, the chief financial officer owned 14,564 shares in the company, valued at approximately $853,304.76. This represents a 17.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its stake in shares of Kewaunee Scientific by 3.4% in the 2nd quarter. First Trust Advisors LP now owns 6,726 shares of the technology company's stock valued at $395,000 after buying an additional 222 shares during the period. Geode Capital Management LLC increased its stake in Kewaunee Scientific by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,013 shares of the technology company's stock valued at $1,410,000 after buying an additional 223 shares during the last quarter. IFP Advisors Inc boosted its position in Kewaunee Scientific by 61.5% in the first quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock worth $37,000 after purchasing an additional 360 shares during the last quarter. Bank of America Corp DE grew its position in Kewaunee Scientific by 2,605.9% during the fourth quarter. Bank of America Corp DE now owns 460 shares of the technology company's stock valued at $28,000 after buying an additional 443 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Kewaunee Scientific in the second quarter worth $60,000. 32.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Kewaunee Scientific Stock Up 2.0%

Shares of NASDAQ KEQU opened at $54.79 on Tuesday. The firm has a market cap of $161.62 million, a PE ratio of 14.30 and a beta of 0.75. The company has a 50 day simple moving average of $56.68 and a 200 day simple moving average of $45.95. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.20 and a quick ratio of 1.59. Kewaunee Scientific has a 1 year low of $30.33 and a 1 year high of $71.33.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The technology company reported $1.95 earnings per share (EPS) for the quarter. The company had revenue of $77.15 million during the quarter. Kewaunee Scientific had a return on equity of 26.02% and a net margin of 4.74%.

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.

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