Short Interest in Kimball Electronics, Inc. (NASDAQ:KE) Grows By 10.4%

Kimball Electronics, Inc. (NASDAQ:KE) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 162,800 shares, an increase of 10.4% from the August 15th total of 147,500 shares. Based on an average trading volume of 89,800 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Cantor Fitzgerald raised their price target on Kimball Electronics from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 18th. Lake Street Capital raised their price target on Kimball Electronics from $32.00 to $38.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, StockNews.com initiated coverage on Kimball Electronics in a report on Thursday, August 17th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Kimball Electronics

Several large investors have recently added to or reduced their stakes in KE. Advisor Group Holdings Inc. increased its stake in Kimball Electronics by 24.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,042 shares of the electronics maker’s stock worth $62,000 after acquiring an additional 606 shares during the last quarter. Swiss National Bank increased its stake in Kimball Electronics by 8.0% during the first quarter. Swiss National Bank now owns 59,400 shares of the electronics maker’s stock worth $1,187,000 after acquiring an additional 4,400 shares during the last quarter. American Century Companies Inc. increased its stake in Kimball Electronics by 10.4% during the first quarter. American Century Companies Inc. now owns 86,239 shares of the electronics maker’s stock worth $1,724,000 after acquiring an additional 8,147 shares during the last quarter. MetLife Investment Management LLC increased its stake in Kimball Electronics by 60.4% during the first quarter. MetLife Investment Management LLC now owns 15,311 shares of the electronics maker’s stock worth $306,000 after acquiring an additional 5,768 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Kimball Electronics by 68.0% during the first quarter. Sei Investments Co. now owns 34,829 shares of the electronics maker’s stock valued at $707,000 after buying an additional 14,098 shares during the period. 70.56% of the stock is owned by institutional investors.

Kimball Electronics Price Performance

Shares of KE stock traded up $0.41 during trading hours on Monday, hitting $27.91. The stock had a trading volume of 86,444 shares, compared to its average volume of 90,677. Kimball Electronics has a one year low of $17.10 and a one year high of $31.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.96 and a quick ratio of 1.01. The stock’s 50-day moving average price is $28.96 and its two-hundred day moving average price is $25.64. The stock has a market capitalization of $689.94 million, a price-to-earnings ratio of 12.57 and a beta of 1.36.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Thursday, August 17th. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.10. Kimball Electronics had a return on equity of 11.39% and a net margin of 3.06%. The firm had revenue of $496.14 million for the quarter. During the same period last year, the firm posted $0.40 earnings per share. Equities analysts forecast that Kimball Electronics will post 2.35 EPS for the current year.

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of contract electronics manufacturing services and diversified manufacturing 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.