Kewaunee Scientific (NASDAQ:KEQU) Stock Price Passes Below 200-Day Moving Average on Insider Selling

Key Points

• Kewaunee Scientific Corporation's stock price fell below its 200-day moving average of $45.34, trading at $44.20 following an insider sale.
• CEO Thomas David Hull III sold 1,854 shares at an average price of $43.42, reducing his ownership by 4.46% to 39,719 shares.
• Analysts upgraded Kewaunee Scientific's rating from "hold" to "buy", indicating a potential positive outlook for the stock.

Shares of Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report) passed below its two hundred day moving average during trading on Wednesday after an insider sold shares in the company. The stock has a two hundred day moving average of $45.34 and traded as low as $43.04. Kewaunee Scientific shares last traded at $44.20, with a volume of 7,139 shares changing hands.

Specifically, CEO Thomas David Hull III sold 1,854 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $43.42, for a total value of $80,500.68. Following the completion of the sale, the chief executive officer owned 39,719 shares in the company, valued at $1,724,598.98. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

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

Kewaunee Scientific Stock Up 3.6%

The stock has a market cap of $126.85 million, a price-to-earnings ratio of 10.70 and a beta of 0.68. The business has a fifty day moving average of $52.24 and a 200 day moving average of $45.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.32 and a quick ratio of 1.63.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last posted its earnings results on Wednesday, September 10th. The technology company reported $1.10 earnings per share for the quarter. The company had revenue of $71.10 million for the quarter. Kewaunee Scientific had a return on equity of 25.65% and a net margin of 4.68%.

Hedge Funds Weigh In On Kewaunee Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. acquired a new position in Kewaunee Scientific during the 1st quarter worth $788,000. American Century Companies Inc. lifted its position in shares of Kewaunee Scientific by 43.4% during the 1st quarter. American Century Companies Inc. now owns 49,182 shares of the technology company's stock worth $1,937,000 after purchasing an additional 14,889 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Kewaunee Scientific by 125.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company's stock worth $764,000 after purchasing an additional 10,803 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Kewaunee Scientific during the 1st quarter valued at approximately $284,000. Finally, Mink Brook Asset Management LLC acquired a new stake in Kewaunee Scientific in the 2nd quarter valued at approximately $370,000. Institutional investors and hedge funds own 32.69% of the company's stock.

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.

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