Kewaunee Scientific Corporation (NASDAQ:KEQU) Short Interest Down 32.9% in July

Key Points

• Kewaunee Scientific Corporation experienced a substantial 32.9% decrease in short interest in July, with a total of 40,100 shares sold short as of July 31st.
• The company's latest earnings report revealed an EPS of $1.95 and revenue of $77.15 million for the quarter, reflecting a net margin of 4.74%.
• Institutional investors have shown increased interest, with several hedge funds significantly boosting their holdings, raising total institutional ownership to 32.69%.

Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 40,100 shares, adecreaseof32.9% from the July 15th total of 59,800 shares. Based on an average trading volume of 11,200 shares, the days-to-cover ratio is currently 3.6 days. Currently,1.9% of the company's stock are sold short. Currently,1.9% of the company's stock are sold short. Based on an average trading volume of 11,200 shares, the days-to-cover ratio is currently 3.6 days.

Kewaunee Scientific Stock Up 2.2%

NASDAQ:KEQU traded up $1.24 during trading hours on Friday, hitting $57.67. The company's stock had a trading volume of 14,680 shares, compared to its average volume of 8,149. The stock has a market capitalization of $170.13 million, a P/E ratio of 15.06 and a beta of 0.70. The stock has a fifty day moving average of $53.82 and a 200-day moving average of $46.79. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 0.92. Kewaunee Scientific has a 52-week low of $30.33 and a 52-week high of $71.33.

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

Insider Buying and Selling at Kewaunee Scientific

In other news, CFO Donald T. Gardner III sold 3,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $58.59, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Kewaunee Scientific

Several hedge funds have recently made changes to their positions in KEQU. Bank of America Corp DE boosted its stake in shares of 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 worth $28,000 after buying an additional 443 shares during the period. IFP Advisors Inc lifted 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 valued at $37,000 after purchasing an additional 360 shares during the period. Raymond James Financial Inc. acquired a new stake in Kewaunee Scientific in the second quarter valued at about $60,000. Wedbush Securities Inc. acquired a new stake in Kewaunee Scientific in the second quarter valued at about $232,000. Finally, Morgan Dempsey Capital Management LLC lifted its position in Kewaunee Scientific by 41.8% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,229 shares of the technology company's stock valued at $247,000 after purchasing an additional 1,247 shares during the period. Hedge funds and other institutional investors own 32.69% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.