Kimball Electronics, Inc. (NASDAQ:KE) Short Interest Up 13.0% in September

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 514,200 shares, a growth of 13.0% from the September 15th total of 455,000 shares. Based on an average trading volume of 124,900 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.1% of the company's shares are sold short.

Wall Street Analyst Weigh In

KE has been the topic of several research reports. Sidoti lowered Kimball Electronics from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research report on Thursday, August 15th. Cantor Fitzgerald decreased their price target on shares of Kimball Electronics from $28.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, August 16th. B. Riley lowered their price target on shares of Kimball Electronics from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Lake Street Capital cut their price objective on shares of Kimball Electronics from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Finally, EF Hutton Acquisition Co. I lowered shares of Kimball Electronics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.25.

Kimball Electronics Stock Performance

NASDAQ:KE traded up $0.17 on Tuesday, hitting $17.96. The stock had a trading volume of 100,630 shares, compared to its average volume of 116,581. The business's 50-day simple moving average is $18.14 and its two-hundred day simple moving average is $20.65. The stock has a market cap of $446.65 million, a price-to-earnings ratio of 14.03 and a beta of 1.26. Kimball Electronics has a 52-week low of $16.64 and a 52-week high of $27.73. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.43.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.08). The business had revenue of $430.16 million for the quarter, compared to analysts' expectations of $429.00 million. Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. During the same quarter in the prior year, the business earned $0.76 EPS. As a group, research analysts predict that Kimball Electronics will post 1.17 earnings per share for the current year.

Institutional Trading of Kimball Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd lifted its position in shares of Kimball Electronics by 40.9% in the fourth quarter. Quadrature Capital Ltd now owns 13,948 shares of the electronics maker's stock valued at $376,000 after acquiring an additional 4,048 shares in the last quarter. Cardinal Capital Management lifted its holdings in Kimball Electronics by 39.0% in the 1st quarter. Cardinal Capital Management now owns 64,538 shares of the electronics maker's stock worth $1,397,000 after purchasing an additional 18,096 shares in the last quarter. Principal Financial Group Inc. bought a new position in Kimball Electronics in the 1st quarter worth approximately $364,000. BNP Paribas Financial Markets grew its holdings in Kimball Electronics by 17.6% during the 1st quarter. BNP Paribas Financial Markets now owns 25,923 shares of the electronics maker's stock valued at $561,000 after buying an additional 3,873 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Kimball Electronics by 70.2% during the first quarter. Empowered Funds LLC now owns 54,864 shares of the electronics maker's stock valued at $1,188,000 after buying an additional 22,625 shares during the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

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.