Short Interest in Key Tronic Co. (NASDAQ:KTCC) Declines By 18.3%

Key Tronic Co. (NASDAQ:KTCC) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 12,500 shares, a drop of 18.3% from the January 31st total of 15,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 39,400 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Key Tronic in a report on Tuesday. They set a “strong-buy” rating on the stock.

Key Tronic Stock Performance

NASDAQ KTCC opened at $2.95 on Friday. The company has a market capitalization of $31.75 million, a price-to-earnings ratio of -5.18 and a beta of 1.53. The company has a quick ratio of 1.71, a current ratio of 2.78 and a debt-to-equity ratio of 0.89. Key Tronic has a twelve month low of $2.80 and a twelve month high of $6.14. The stock has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $4.70.

Key Tronic (NASDAQ:KTCC) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.38) earnings per share (EPS) for the quarter. Key Tronic had a negative return on equity of 3.23% and a negative net margin of 1.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KTCC. Tieton Capital Management LLC increased its position in shares of Key Tronic by 23.1% during the fourth quarter. Tieton Capital Management LLC now owns 749,083 shares of the technology company’s stock worth $3,124,000 after buying an additional 140,573 shares during the period. Renaissance Technologies LLC boosted its position in Key Tronic by 63.5% during the fourth quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock valued at $397,000 after acquiring an additional 37,000 shares during the last quarter. Northern Trust Corp grew its holdings in Key Tronic by 59.3% during the 4th quarter. Northern Trust Corp now owns 52,423 shares of the technology company’s stock worth $219,000 after acquiring an additional 19,513 shares during the period. Kennedy Capital Management LLC raised its position in shares of Key Tronic by 9.3% in the 4th quarter. Kennedy Capital Management LLC now owns 141,625 shares of the technology company’s stock worth $591,000 after acquiring an additional 12,023 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Key Tronic in the 3rd quarter valued at about $63,000. Institutional investors and hedge funds own 40.69% of the company’s stock.

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.