Short Interest in Kewaunee Scientific Co. (NASDAQ:KEQU) Rises By 25.3%

Kewaunee Scientific Co. (NASDAQ:KEQU - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 55,000 shares, a growth of 25.3% from the March 15th total of 43,900 shares. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.6% of the shares of the company are sold short.

Kewaunee Scientific Stock Performance

KEQU stock traded up $0.63 during midday trading on Thursday, reaching $32.83. 14,196 shares of the company's stock traded hands, compared to its average volume of 23,817. The stock's 50-day moving average is $44.45 and its 200 day moving average is $47.29. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 0.45. The stock has a market cap of $93.72 million, a P/E ratio of 5.20 and a beta of 0.59. Kewaunee Scientific has a 52-week low of $30.82 and a 52-week high of $71.33.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last announced its earnings results on Wednesday, March 12th. The technology company reported $1.09 earnings per share (EPS) for the quarter. The business had revenue of $67.17 million during the quarter. Kewaunee Scientific had a return on equity of 25.83% and a net margin of 9.39%.

Insiders Place Their Bets

In related news, CEO Thomas David Hull III sold 3,000 shares of Kewaunee Scientific stock in a transaction on Monday, March 24th. The stock was sold at an average price of $45.63, for a total transaction of $136,890.00. Following the sale, the chief executive officer now directly owns 37,916 shares in the company, valued at approximately $1,730,107.08. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith M. Gehl acquired 1,000 shares of Kewaunee Scientific stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $35.00 per share, with a total value of $35,000.00. Following the completion of the purchase, the director now directly owns 18,500 shares in the company, valued at $647,500. This represents a 5.71 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 11,057 shares of company stock worth $440,326 in the last quarter. 14.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kewaunee Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEQU. Invesco Ltd. purchased a new stake in shares of Kewaunee Scientific in the fourth quarter valued at approximately $6,545,000. Marshall Wace LLP purchased a new position in Kewaunee Scientific during the 4th quarter worth $736,000. Truffle Hound Capital LLC acquired a new position in Kewaunee Scientific during the fourth quarter worth $619,000. State Street Corp acquired a new position in shares of Kewaunee Scientific during the 3rd quarter worth $266,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Kewaunee Scientific during the 4th quarter valued at approximately $338,000. Hedge funds and other institutional investors own 32.69% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Kewaunee Scientific from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

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.