Kimball Electronics, Inc. (NASDAQ:KE) Short Interest Down 8.3% in August

Kimball Electronics, Inc. (NASDAQ:KE) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 497,700 shares, a drop of 8.3% from the August 15th total of 542,900 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 116,400 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analyst Weigh In

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

Kimball Electronics Trading Down 0.3 %

Shares of KE stock traded down $0.06 during trading hours on Wednesday, reaching $18.10. The company had a trading volume of 26,403 shares, compared to its average volume of 115,264. The firm has a market cap of $450.13 million, a price-to-earnings ratio of 14.19 and a beta of 1.26. The company has a 50 day moving average of $20.17 and a 200 day moving average of $21.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.26 and a quick ratio of 1.36. Kimball Electronics has a 1-year low of $17.09 and a 1-year high of $28.40.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. The company had revenue of $430.16 million for the quarter, compared to the consensus estimate of $429.00 million. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities research analysts anticipate that Kimball Electronics will post 1.17 EPS for the current year.

Hedge Funds Weigh In On Kimball Electronics

Several large investors have recently bought and sold shares of KE. Hsbc Holdings PLC bought a new stake in Kimball Electronics during the 2nd quarter valued at $210,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Kimball Electronics in the 2nd quarter worth about $217,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Kimball Electronics by 1,526.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock worth $230,000 after acquiring an additional 9,813 shares during the last quarter. EntryPoint Capital LLC boosted its stake in Kimball Electronics by 96.2% during the 1st quarter. EntryPoint Capital LLC now owns 10,745 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 5,269 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Kimball Electronics during the 2nd quarter valued at about $237,000. 75.99% of the stock is currently owned by 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, industrial, and public safety end markets. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end market verticals.