Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Drop in Short Interest

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

Kimball Electronics Trading Down 0.3 %

Shares of KE traded down $0.06 during trading hours on Wednesday, hitting $18.10. The company had a trading volume of 26,403 shares, compared to its average volume of 115,264. Kimball Electronics has a 52-week low of $17.09 and a 52-week high of $28.40. 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 stock’s 50 day moving average price is $20.17 and its 200 day moving average price is $21.12. The firm has a market cap of $450.13 million, a P/E ratio of 14.19 and a beta of 1.26.

Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The company 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 last year, the firm earned $0.76 earnings per share. On average, research analysts predict that Kimball Electronics will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Kimball Electronics

A number of large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Kimball Electronics by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 194,608 shares of the electronics maker’s stock valued at $5,245,000 after acquiring an additional 5,126 shares in the last quarter. Jump Financial LLC lifted its position 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 worth $567,000 after purchasing an additional 12,139 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Kimball Electronics by 16.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 9,644 shares of the electronics maker’s stock valued at $260,000 after purchasing an additional 1,344 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Kimball Electronics by 0.9% during the fourth quarter. Wells Fargo & Company MN now owns 352,951 shares of the electronics maker’s stock valued at $9,512,000 after buying an additional 3,237 shares during the period. Finally, Quest Partners LLC bought a new position in Kimball Electronics in the fourth quarter worth about $303,000. Institutional investors own 75.99% of the company’s stock.

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.