Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Decline in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 363,400 shares, a drop of 20.6% from the April 30th total of 457,500 shares. Approximately 1.5% of the company's stock are sold short. Based on an average daily trading volume, of 157,900 shares, the short-interest ratio is presently 2.3 days.

Institutional Investors Weigh In On Kimball Electronics

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Kimball Electronics by 3,256.0% in the first quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock valued at $69,000 after purchasing an additional 4,070 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Kimball Electronics during the fourth quarter worth $82,000. Aquatic Capital Management LLC raised its holdings in shares of Kimball Electronics by 211.6% in the fourth quarter. Aquatic Capital Management LLC now owns 8,726 shares of the electronics maker's stock worth $163,000 after acquiring an additional 5,926 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Kimball Electronics in the first quarter valued at $177,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Kimball Electronics during the first quarter valued at $200,000. Hedge funds and other institutional investors own 75.99% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on KE shares. Wall Street Zen raised shares of Kimball Electronics from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Lake Street Capital decreased their price target on Kimball Electronics from $23.00 to $21.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Kimball Electronics Stock Performance

Shares of KE traded up $0.38 during midday trading on Tuesday, reaching $18.65. 227,803 shares of the stock were exchanged, compared to its average volume of 132,643. Kimball Electronics has a twelve month low of $12.41 and a twelve month high of $24.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.28 and a quick ratio of 1.29. The company has a market capitalization of $454.69 million, a price-to-earnings ratio of 58.28 and a beta of 1.11. The business's 50-day moving average price is $15.71 and its 200 day moving average price is $17.35.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The electronics maker reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The company had revenue of $374.61 million during the quarter, compared to analysts' expectations of $338.08 million. Kimball Electronics had a return on equity of 5.48% and a net margin of 0.51%. On average, sell-side analysts expect that Kimball Electronics will post 0.89 EPS for the current fiscal year.

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.