Kimball Electronics, Inc. (NASDAQ:KE) Short Interest Update

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

Kimball Electronics Trading Up 0.8 %

NASDAQ:KE traded up $0.14 during midday trading on Wednesday, reaching $18.30. 98,360 shares of the stock traded hands, compared to its average volume of 115,664. The stock has a market capitalization of $455.10 million, a P/E ratio of 14.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.36 and a current ratio of 2.26. The company has a fifty day moving average of $20.17 and a 200 day moving average of $21.12. Kimball Electronics has a 12 month low of $17.09 and a 12 month high of $28.40.

Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The business had revenue of $430.16 million for the quarter, compared to analysts’ expectations of $429.00 million. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, research analysts predict that Kimball Electronics will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KE. Foundry Partners LLC lifted its position in Kimball Electronics by 25.2% during the 1st quarter. Foundry Partners LLC now owns 197,225 shares of the electronics maker’s stock valued at $4,270,000 after acquiring an additional 39,755 shares during the period. Empowered Funds LLC increased its stake in shares of Kimball Electronics by 70.2% during the first quarter. Empowered Funds LLC now owns 54,864 shares of the electronics maker’s stock valued at $1,188,000 after purchasing an additional 22,625 shares in the last quarter. Oxford Financial Group LTD. LLC lifted its holdings in shares of Kimball Electronics by 35.4% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 463,536 shares of the electronics maker’s stock valued at $12,492,000 after purchasing an additional 121,076 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of Kimball Electronics by 5.5% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 368,343 shares of the electronics maker’s stock worth $9,927,000 after purchasing an additional 19,234 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Kimball Electronics by 16.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 9,644 shares of the electronics maker’s stock worth $260,000 after purchasing an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Analysts Set New Price Targets

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

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.