Kimball Electronics, Inc. (NASDAQ:KE) Sees Large Increase in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 497,000 shares, a growth of 20.2% from the January 31st total of 413,500 shares. Based on an average daily volume of 123,400 shares, the short-interest ratio is currently 4.0 days. Approximately 2.1% of the company's stock are sold short.

Hedge Funds Weigh In On Kimball Electronics

Several institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Kimball Electronics by 239.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 200,362 shares of the electronics maker's stock worth $3,753,000 after purchasing an additional 141,411 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kimball Electronics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 1,945,556 shares of the electronics maker's stock worth $36,440,000 after acquiring an additional 92,166 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Kimball Electronics by 142.1% in the 4th quarter. JPMorgan Chase & Co. now owns 113,208 shares of the electronics maker's stock valued at $2,120,000 after acquiring an additional 66,444 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Kimball Electronics during the 4th quarter valued at about $1,147,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Kimball Electronics during the 4th quarter worth approximately $1,135,000. 75.99% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have commented on KE. StockNews.com upgraded shares of Kimball Electronics from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Lake Street Capital cut 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.75.

Kimball Electronics Price Performance

Kimball Electronics stock traded down $0.08 during mid-day trading on Monday, reaching $16.50. 48,904 shares of the company were exchanged, compared to its average volume of 126,741. The company has a fifty day simple moving average of $18.05 and a 200-day simple moving average of $18.37. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.28 and a quick ratio of 1.29. Kimball Electronics has a 12 month low of $15.94 and a 12 month high of $24.45. The firm has a market cap of $405.03 million, a PE ratio of 51.55 and a beta of 1.21.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Kimball Electronics had a net margin of 0.51% and a return on equity of 5.48%. As a group, equities research analysts expect that Kimball Electronics will post 0.89 earnings per share for the current fiscal year.

About Kimball Electronics

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.