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

Kimball Electronics, Inc. (NASDAQ:KE) was the target of a significant growth in short interest during 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 company’s stock are sold short. Based on an average daily trading volume, of 124,900 shares, the short-interest ratio is presently 4.1 days.

Analyst Upgrades and Downgrades

Several analysts have commented on KE shares. Cantor Fitzgerald cut their target price 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. Sidoti lowered shares of Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Thursday, August 15th. B. Riley lowered their price objective on shares of Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Lake Street Capital reduced their price objective on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, EF Hutton Acquisition Co. I cut shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Kimball Electronics by 78.5% in the 3rd quarter. SG Americas Securities LLC now owns 8,755 shares of the electronics maker’s stock worth $162,000 after purchasing an additional 3,849 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Kimball Electronics during the second quarter worth $210,000. The Manufacturers Life Insurance Company purchased a new position in Kimball Electronics during the second quarter valued at $217,000. Allspring Global Investments Holdings LLC increased its holdings in Kimball Electronics by 1,526.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock valued at $230,000 after acquiring an additional 9,813 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Kimball Electronics by 96.2% in the 1st quarter. EntryPoint Capital LLC now owns 10,745 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 5,269 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Kimball Electronics Stock Performance

NASDAQ:KE opened at $17.79 on Tuesday. The stock has a 50-day simple moving average of $18.19 and a two-hundred day simple moving average of $20.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.36 and a current ratio of 2.26. Kimball Electronics has a 52-week low of $16.64 and a 52-week high of $27.73. The firm has a market capitalization of $442.42 million, a PE ratio of 13.90 and a beta of 1.26.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. The firm had revenue of $430.16 million during the quarter, compared to analysts’ expectations of $429.00 million. During the same period in the prior year, the company posted $0.76 earnings per share. Analysts forecast that Kimball Electronics will post 1.17 EPS for the current year.

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.