Key Tronic (NASDAQ:KTCC) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Key Tronic Co. (NASDAQ:KTCC)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.48 and traded as high as $5.90. Key Tronic shares last traded at $5.90, with a volume of 6,493 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Key Tronic in a research report on Thursday. They set a “buy” rating on the stock.

Key Tronic Price Performance

The firm has a market capitalization of $63.50 million, a P/E ratio of 295.00 and a beta of 1.51. The company has a current ratio of 2.80, a quick ratio of 1.75 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average price of $5.15 and a 200-day moving average price of $4.48.

Key Tronic (NASDAQ:KTCC) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.11 earnings per share (EPS) for the quarter. Key Tronic had a positive return on equity of 0.28% and a negative net margin of 0.14%. The company had revenue of $125.69 million during the quarter.

Hedge Funds Weigh In On Key Tronic

A hedge fund recently raised its stake in Key Tronic stock. Vanguard Group Inc. boosted its position in Key Tronic Co. (NASDAQ:KTCC) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 447,475 shares of the technology company’s stock after purchasing an additional 3,848 shares during the period. Vanguard Group Inc. owned approximately 4.16% of Key Tronic worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 40.69% of the stock is currently owned by institutional investors.

About Key Tronic

Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; prototype design; and full product assembly services.