Kimball Electronics, Inc. (NASDAQ:KE) Sees Significant Decline in Short Interest

Kimball Electronics, Inc. (NASDAQ:KE) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 389,500 shares, a decrease of 19.5% from the February 28th total of 484,100 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 135,400 shares, the short-interest ratio is presently 2.9 days.

Hedge Funds Weigh In On Kimball Electronics

Several hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Kimball Electronics during the 3rd quarter valued at about $61,000. Quantbot Technologies LP lifted its holdings in Kimball Electronics by 995.9% in the third quarter. Quantbot Technologies LP now owns 9,019 shares of the electronics maker’s stock valued at $167,000 after buying an additional 8,196 shares during the period. FMR LLC lifted its holdings in Kimball Electronics by 67.8% in the third quarter. FMR LLC now owns 41,086 shares of the electronics maker’s stock valued at $760,000 after buying an additional 16,608 shares during the period. BNP Paribas Financial Markets boosted its stake in Kimball Electronics by 271.3% in the third quarter. BNP Paribas Financial Markets now owns 27,898 shares of the electronics maker’s stock valued at $516,000 after acquiring an additional 20,385 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Kimball Electronics by 0.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,526 shares of the electronics maker’s stock worth $1,768,000 after acquiring an additional 556 shares during the period. Institutional investors own 75.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KE. Lake Street Capital cut their price target on shares of Kimball Electronics from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com upgraded shares of Kimball Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Kimball Electronics Trading Down 1.3 %

Shares of NASDAQ KE opened at $16.23 on Wednesday. Kimball Electronics has a 1-year low of $15.94 and a 1-year high of $24.45. The company has a 50-day moving average of $17.39 and a two-hundred day moving average of $18.23. The company has a market cap of $398.53 million, a PE ratio of 50.72 and a beta of 1.21. The company has a current ratio of 2.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Kimball Electronics had a net margin of 0.51% and a return on equity of 5.48%. As a group, equities analysts expect that Kimball Electronics will post 0.89 earnings per share for the current fiscal 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, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.