Kewaunee Scientific Co. (NASDAQ:KEQU) Sees Significant Increase in Short Interest

Kewaunee Scientific Co. (NASDAQ:KEQU - Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 33,100 shares, a growth of 68.9% from the September 15th total of 19,600 shares. Based on an average daily volume of 30,900 shares, the short-interest ratio is currently 1.1 days. Approximately 1.6% of the company's stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Kewaunee Scientific from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 28th.

Kewaunee Scientific Price Performance

Shares of NASDAQ KEQU traded up $0.50 during mid-day trading on Friday, hitting $33.00. 10,004 shares of the stock were exchanged, compared to its average volume of 17,755. Kewaunee Scientific has a twelve month low of $16.51 and a twelve month high of $55.62. The stock's fifty day simple moving average is $43.04 and its two-hundred day simple moving average is $41.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.00 and a current ratio of 2.53. The company has a market cap of $93.72 million, a P/E ratio of 5.20 and a beta of 0.72.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last announced its earnings results on Wednesday, September 11th. The technology company reported $0.93 earnings per share for the quarter. The company had revenue of $48.39 million during the quarter. Kewaunee Scientific had a net margin of 9.13% and a return on equity of 25.87%.

Hedge Funds Weigh In On Kewaunee Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Heron Bay Capital Management bought a new position in Kewaunee Scientific in the second quarter valued at $252,000. Ritholtz Wealth Management grew its holdings in shares of Kewaunee Scientific by 24.6% in the 3rd quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company's stock valued at $363,000 after acquiring an additional 2,156 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Kewaunee Scientific by 13.4% in the second quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company's stock valued at $4,230,000 after acquiring an additional 10,580 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Kewaunee Scientific by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company's stock worth $8,378,000 after acquiring an additional 6,132 shares in the last quarter. 32.69% of the stock is owned by institutional investors.

About Kewaunee Scientific

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.

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