Kewaunee Scientific (NASDAQ:KEQU) Shares Pass Above 200 Day Moving Average – Here’s Why

Kewaunee Scientific Co. (NASDAQ:KEQU)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $42.85 and traded as high as $63.23. Kewaunee Scientific shares last traded at $61.10, with a volume of 53,912 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised Kewaunee Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th.

Kewaunee Scientific Stock Up 13.8 %

The business’s 50 day moving average price is $40.78 and its 200-day moving average price is $42.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.53 and a quick ratio of 2.00. The company has a market cap of $175.48 million, a P/E ratio of 9.68 and a beta of 0.80.

Insider Buying and Selling at Kewaunee Scientific

In related news, VP Elizabeth D. Phillips sold 1,850 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $54.17, for a total value of $100,214.50. Following the completion of the transaction, the vice president now directly owns 13,591 shares in the company, valued at approximately $736,224.47. The trade was a 11.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KEQU. Barclays PLC acquired a new stake in Kewaunee Scientific during the third quarter worth approximately $121,000. Heron Bay Capital Management bought a new position in Kewaunee Scientific in the second quarter valued at approximately $252,000. State Street Corp bought a new stake in Kewaunee Scientific during the third quarter worth $266,000. Ritholtz Wealth Management boosted its stake in Kewaunee Scientific by 24.6% in the third quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company’s stock valued at $363,000 after buying an additional 2,156 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Kewaunee Scientific by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 23,784 shares of the technology company’s stock valued at $792,000 after purchasing an additional 1,941 shares in the last quarter. 32.69% of the stock is owned by institutional investors and hedge funds.

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.