Short Interest in Kimball Electronics, Inc. (NASDAQ:KE) Expands By 19.2%

Kimball Electronics, Inc. (NASDAQ:KE) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 542,900 shares, an increase of 19.2% from the July 31st total of 455,300 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average trading volume of 111,000 shares, the days-to-cover ratio is currently 4.9 days.

Kimball Electronics Trading Down 0.2 %

NASDAQ:KE opened at $18.45 on Friday. The stock’s 50 day moving average price is $21.06 and its 200 day moving average price is $21.47. The company has a market capitalization of $458.83 million, a PE ratio of 14.41 and a beta of 1.30. The company has a quick ratio of 1.12, a current ratio of 2.03 and a debt-to-equity ratio of 0.44. Kimball Electronics has a 52-week low of $17.29 and a 52-week high of $31.43.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Kimball Electronics had a return on equity of 8.70% and a net margin of 1.81%. The company had revenue of $430.16 million for the quarter, compared to analyst estimates of $429.00 million. During the same period in the previous year, the business posted $0.76 earnings per share. On average, research analysts anticipate that Kimball Electronics will post 1.53 EPS for the current year.

Institutional Trading of Kimball Electronics

Hedge funds have recently added to or reduced their stakes in the stock. Sapient Capital LLC acquired a new stake in shares of Kimball Electronics in the 4th quarter valued at approximately $8,761,000. Legacy Financial Advisors Inc. lifted its holdings in shares of Kimball Electronics by 35.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 31,503 shares of the electronics maker’s stock valued at $849,000 after buying an additional 8,330 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kimball Electronics by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 194,608 shares of the electronics maker’s stock valued at $5,245,000 after buying an additional 5,126 shares during the period. Jump Financial LLC lifted its holdings in shares of Kimball Electronics by 136.4% in the 4th quarter. Jump Financial LLC now owns 21,039 shares of the electronics maker’s stock valued at $567,000 after buying an additional 12,139 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Kimball Electronics by 11.2% in the 4th quarter. First Eagle Investment Management LLC now owns 249,024 shares of the electronics maker’s stock valued at $6,711,000 after buying an additional 25,000 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KE has been the topic of a number of recent analyst reports. Sidoti downgraded Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Thursday, August 15th. EF Hutton Acquisition Co. I downgraded Kimball Electronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. B. Riley dropped their price target on Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Lake Street Capital dropped their price target on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Cantor Fitzgerald dropped their price target on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kimball Electronics currently has an average rating of “Moderate Buy” and an average price target of $23.25.

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, 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.