Key Tronic Co. (NASDAQ:KTCC – Get Free Report) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 9,000 shares, a decrease of 43.8% from the August 15th total of 16,000 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 21,200 shares, the short-interest ratio is currently 0.4 days.
Hedge Funds Weigh In On Key Tronic
A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Key Tronic by 12.7% in the 1st quarter. Renaissance Technologies LLC now owns 27,500 shares of the technology company’s stock worth $200,000 after buying an additional 3,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Key Tronic by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 808,358 shares of the technology company’s stock worth $3,266,000 after acquiring an additional 3,476 shares during the last quarter. Moors & Cabot Inc. grew its position in Key Tronic by 2.3% during the 1st quarter. Moors & Cabot Inc. now owns 156,750 shares of the technology company’s stock worth $1,140,000 after acquiring an additional 3,500 shares during the last quarter. Simplex Trading LLC bought a new stake in Key Tronic during the 1st quarter worth approximately $26,000. Finally, Tieton Capital Management LLC grew its position in Key Tronic by 0.6% during the 2nd quarter. Tieton Capital Management LLC now owns 663,946 shares of the technology company’s stock worth $3,765,000 after acquiring an additional 3,701 shares during the last quarter.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on Key Tronic in a report on Tuesday, September 12th. They issued a “buy” rating for the company.
Key Tronic Trading Down 5.9 %
Key Tronic stock opened at $4.46 on Friday. The business has a 50 day moving average price of $5.22 and a two-hundred day moving average price of $5.84. The company has a quick ratio of 1.26, a current ratio of 2.21 and a debt-to-equity ratio of 0.98. Key Tronic has a 12 month low of $4.00 and a 12 month high of $7.53.
Key Tronic (NASDAQ:KTCC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 15th. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). Key Tronic had a net margin of 0.88% and a return on equity of 2.43%. The firm had revenue of $162.61 million during the quarter.
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.
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