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

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 461,300 shares, a growth of 18.4% from the March 15th total of 389,500 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 140,500 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on KE. Lake Street Capital lowered their target price on shares of Kimball Electronics from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of Kimball Electronics from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

Institutional Investors Weigh In On Kimball Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KE. GAMMA Investing LLC increased its position in shares of Kimball Electronics by 3,256.0% during the first quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 4,070 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Kimball Electronics during the fourth quarter worth $82,000. Aquatic Capital Management LLC boosted its position in shares of Kimball Electronics by 211.6% during the fourth quarter. Aquatic Capital Management LLC now owns 8,726 shares of the electronics maker's stock worth $163,000 after buying an additional 5,926 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Kimball Electronics in the 4th quarter valued at $201,000. Finally, Point72 Asset Management L.P. lifted its stake in Kimball Electronics by 17.0% during the 4th quarter. Point72 Asset Management L.P. now owns 10,889 shares of the electronics maker's stock worth $204,000 after acquiring an additional 1,584 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company's stock.

Kimball Electronics Price Performance

KE traded up $0.25 during trading on Friday, reaching $14.58. The company's stock had a trading volume of 84,639 shares, compared to its average volume of 121,404. The company has a quick ratio of 1.29, a current ratio of 2.28 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $17.66. The company has a market cap of $357.89 million, a price-to-earnings ratio of 45.31 and a beta of 1.18. Kimball Electronics has a 1 year low of $12.41 and a 1 year high of $24.45.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its 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 return on equity of 5.48% and a net margin of 0.51%. As a group, analysts anticipate that Kimball Electronics will post 0.89 EPS for the current 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.