Kewaunee Scientific (NASDAQ:KEQU) Stock Passes Below 200-Day Moving Average – What’s Next?

Kewaunee Scientific Corporation (NASDAQ:KEQU)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.91 and traded as low as $35.00. Kewaunee Scientific shares last traded at $35.52, with a volume of 4,057 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kewaunee Scientific in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Kewaunee Scientific Stock Up 2.1%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 2.18. The stock has a market capitalization of $101.94 million, a price-to-earnings ratio of 11.03 and a beta of 0.70. The firm’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $37.91.

Kewaunee Scientific (NASDAQ:KEQU) last announced its quarterly earnings results on Tuesday, June 23rd. The technology company reported $1.14 earnings per share for the quarter. The firm had revenue of $71.40 million for the quarter. Kewaunee Scientific had a net margin of 3.41% and a return on equity of 14.10%. During the same period in the previous year, the firm posted $1.95 EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Royce & Associates LP bought a new position in shares of Kewaunee Scientific during the 3rd quarter worth approximately $1,663,000. Minerva Advisors LLC boosted its holdings in Kewaunee Scientific by 51.8% during the fourth quarter. Minerva Advisors LLC now owns 121,863 shares of the technology company’s stock worth $4,559,000 after purchasing an additional 41,589 shares during the last quarter. Northeast Investment Management bought a new position in Kewaunee Scientific in the fourth quarter valued at $748,000. Mink Brook Asset Management LLC increased its stake in Kewaunee Scientific by 83.4% in the 3rd quarter. Mink Brook Asset Management LLC now owns 11,571 shares of the technology company’s stock valued at $494,000 after buying an additional 5,261 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position in Kewaunee Scientific by 16.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 81,835 shares of the technology company’s stock worth $3,061,000 after buying an additional 11,750 shares in the last quarter. 32.69% of the stock is currently owned by institutional investors.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.