Kewaunee Scientific (NASDAQ:KEQU) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Kewaunee Scientific's stock price has surpassed its 200-day moving average of $47.43, reaching a high of $58.47 during Wednesday's trading session.
• Wall Street Zen upgraded Kewaunee Scientific's rating from "hold" to "buy", reflecting positive sentiment among analysts.
• The company's recent earnings report showed an EPS of $1.95, with a net margin of 4.74% and revenue totaling $77.15 million for the quarter.

Shares of Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $47.43 and traded as high as $58.47. Kewaunee Scientific shares last traded at $56.15, with a volume of 4,483 shares.

Wall Street Analyst Weigh In

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

Kewaunee Scientific Price Performance

The firm's 50-day moving average price is $48.82 and its 200-day moving average price is $47.35. 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 stock has a market capitalization of $161.60 million, a PE ratio of 14.30 and a beta of 0.71.

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

Insider Activity

In related news, CFO Donald T. Gardner III sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $58.59, for a total transaction of $175,770.00. Following the transaction, the chief financial officer directly owned 14,564 shares in the company, valued at approximately $853,304.76. This represents a 17.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Kewaunee Scientific

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC grew its holdings 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 valued at $247,000 after purchasing an additional 1,247 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Kewaunee Scientific by 125.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company's stock valued at $764,000 after purchasing an additional 10,803 shares during the last quarter. Jane Street Group LLC grew its holdings in Kewaunee Scientific by 65.8% during the 1st quarter. Jane Street Group LLC now owns 8,052 shares of the technology company's stock valued at $317,000 after purchasing an additional 3,196 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new position in Kewaunee Scientific during the 1st quarter valued at about $788,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Kewaunee Scientific during the 1st quarter valued at about $284,000. 32.69% of the stock is currently owned by institutional investors.

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.