Kewaunee Scientific (NASDAQ:KEQU) Shares Pass Below 200-Day Moving Average – Time to Sell?

Kewaunee Scientific Corporation (NASDAQ:KEQU) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $37.78 and traded as low as $36.95. Kewaunee Scientific shares last traded at $37.71, with a volume of 2,817 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kewaunee Scientific in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Kewaunee Scientific Price Performance

The firm’s fifty day simple moving average is $37.62 and its 200 day simple moving average is $37.78. The firm has a market cap of $108.23 million, a P/E ratio of 11.71 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 2.18.

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

Hedge Funds Weigh In On Kewaunee Scientific

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock worth $28,000 after acquiring an additional 443 shares during the last quarter. US Bancorp DE raised its holdings in shares of Kewaunee Scientific by 80.0% during the 3rd quarter. US Bancorp DE now owns 900 shares of the technology company’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kewaunee Scientific during the 2nd quarter valued at approximately $60,000. Barclays PLC bought a new position in shares of Kewaunee Scientific during the 4th quarter valued at approximately $92,000. Finally, Jane Street Group LLC grew its holdings in shares of Kewaunee Scientific by 65.8% in the first quarter. Jane Street Group LLC now owns 8,052 shares of the technology company’s stock valued at $317,000 after purchasing an additional 3,196 shares in the last quarter. Hedge funds and other institutional investors own 32.69% of the company’s stock.

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.