Knife River Co. (NYSE:KNF) Sees Significant Growth in Short Interest

Knife River Co. (NYSE:KNF) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,560,000 shares, an increase of 8.3% from the June 30th total of 1,440,000 shares. Based on an average daily volume of 396,200 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analyst Weigh In

Separately, Stephens started coverage on shares of Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Knife River presently has an average rating of “Moderate Buy” and an average target price of $77.67.

Knife River Trading Down 2.0 %

Shares of NYSE:KNF traded down $1.65 during mid-day trading on Tuesday, reaching $78.98. The stock had a trading volume of 717,333 shares, compared to its average volume of 396,431. The firm has a market cap of $4.47 billion and a PE ratio of 25.48. The firm has a 50 day simple moving average of $72.37 and a two-hundred day simple moving average of $73.44. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Knife River has a twelve month low of $42.72 and a twelve month high of $83.78.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). The firm had revenue of $329.60 million during the quarter, compared to analyst estimates of $300.98 million. Knife River had a net margin of 6.19% and a return on equity of 14.65%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($516.50) earnings per share. On average, research analysts predict that Knife River will post 3.51 EPS for the current fiscal year.

Institutional Trading of Knife River

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Knife River in the 2nd quarter valued at approximately $39,000. TFO Wealth Partners LLC increased its stake in Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock worth $51,000 after purchasing an additional 765 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in Knife River during the 1st quarter worth approximately $203,000. Koshinski Asset Management Inc. bought a new stake in Knife River during the 1st quarter worth approximately $206,000. Finally, Grimes & Company Inc. bought a new stake in Knife River during the 1st quarter worth approximately $216,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.