Kewaunee Scientific (NASDAQ:KEQU) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Kewaunee Scientific Corporation (NASDAQ:KEQU)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.25 and traded as high as $41.20. Kewaunee Scientific shares last traded at $40.57, with a volume of 1,074 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kewaunee Scientific in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Kewaunee Scientific Trading Down 0.4%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.45 and a current ratio of 2.12. The stock’s fifty day moving average is $36.72 and its 200 day moving average is $38.25. The stock has a market cap of $116.27 million, a P/E ratio of 10.91 and a beta of 0.70.

Institutional Trading of Kewaunee Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEQU. Minerva Advisors LLC raised its position in Kewaunee Scientific by 51.8% in the 4th 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 period. Royce & Associates LP purchased a new stake in Kewaunee Scientific in the 3rd quarter worth about $1,663,000. Punch & Associates Investment Management Inc. raised its position in Kewaunee Scientific by 61.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 70,085 shares of the technology company’s stock worth $2,989,000 after purchasing an additional 26,785 shares during the period. Northeast Investment Management purchased a new stake in Kewaunee Scientific in the 4th quarter worth about $748,000. Finally, Susquehanna International Group LLP purchased a new stake in Kewaunee Scientific in the 3rd quarter worth about $713,000. 32.69% of the stock is owned by hedge funds and other 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.