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

Kimball Electronics, Inc. (NASDAQ:KE) saw a large 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. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 124,900 shares, the short-interest ratio is presently 4.1 days.

Kimball Electronics Price Performance

Shares of Kimball Electronics stock opened at $18.54 on Thursday. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.43. The company has a market cap of $461.07 million, a PE ratio of 14.48 and a beta of 1.26. The business has a 50 day moving average of $18.11 and a 200 day moving average of $20.63. Kimball Electronics has a 52 week low of $16.64 and a 52 week high of $27.73.

Kimball Electronics (NASDAQ:KE) 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 firm had revenue of $430.16 million during 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 period in the previous year, the company earned $0.76 earnings per share. As a group, equities research analysts forecast that Kimball Electronics will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KE. nVerses Capital LLC bought a new position in Kimball Electronics in the third quarter valued at about $48,000. SG Americas Securities LLC lifted its holdings in Kimball Electronics by 78.5% in the third quarter. SG Americas Securities LLC now owns 8,755 shares of the electronics maker’s stock valued at $162,000 after acquiring an additional 3,849 shares during the period. Hsbc Holdings PLC bought a new position in Kimball Electronics in the second quarter valued at about $210,000. The Manufacturers Life Insurance Company bought a new position in Kimball Electronics in the second quarter valued at about $217,000. Finally, Creative Planning bought a new position in shares of Kimball Electronics in the third quarter worth about $219,000. 75.99% of the stock is 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, 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.