Key Tronic Corporation (NASDAQ:KTCC) Sees Large Drop in Short Interest
by Danessa Lincoln · The Markets DailyKey Tronic Corporation (NASDAQ:KTCC – Get Free Report) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 24,532 shares, a decline of 32.5% from the January 29th total of 36,327 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 19,830 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 19,830 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.2% of the company’s stock are short sold.
Institutional Trading of Key Tronic
Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Key Tronic by 65.9% in the first quarter. Goldman Sachs Group Inc. now owns 23,480 shares of the technology company’s stock valued at $61,000 after purchasing an additional 9,327 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Key Tronic by 26.9% during the 2nd quarter. Moors & Cabot Inc. now owns 127,550 shares of the technology company’s stock worth $365,000 after buying an additional 27,000 shares during the last quarter. Finally, Bensler LLC acquired a new position in shares of Key Tronic during the 3rd quarter worth about $109,000. 40.69% of the stock is currently owned by institutional investors and hedge funds.
Key Tronic Trading Down 3.4%
Shares of NASDAQ:KTCC traded down $0.10 during mid-day trading on Friday, reaching $2.88. The stock had a trading volume of 27,867 shares, compared to its average volume of 14,051. The company has a current ratio of 2.03, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. Key Tronic has a twelve month low of $2.21 and a twelve month high of $3.70. The firm has a 50 day simple moving average of $2.85 and a two-hundred day simple moving average of $2.97. The firm has a market cap of $31.28 million, a PE ratio of -2.03 and a beta of 1.15.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Key Tronic in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Key Tronic has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on KTCC
Key Tronic Company Profile
Key Tronic Corporation (NASDAQ: KTCC) is a global electronics manufacturer headquartered in Spokane, Washington. The company specializes in the design, development and production of human-machine interfaces and input devices, with a core legacy in keyboard technology. Over more than five decades, Key Tronic has expanded its capabilities beyond keyboards to encompass a broad range of electronic assemblies for OEMs across computing, industrial, medical and consumer markets.
Key Tronic’s product portfolio includes membrane and mechanical keyboards, touch panels, silicone keypads and custom input solutions tailored to customer specifications.