Key Tronic (NASDAQ:KTCC) Shares Cross Below 200 Day Moving Average – Here’s Why

Key Tronic Corporation (NASDAQ:KTCC) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.96 and traded as low as $2.72. Key Tronic shares last traded at $2.76, with a volume of 21,423 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Key Tronic in a research note on Thursday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Key Tronic currently has a consensus rating of “Sell”.

Key Tronic Price Performance

The firm has a market capitalization of $29.97 million, a price-to-earnings ratio of -2.53 and a beta of 1.10. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $2.64 and a two-hundred day moving average price of $2.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KTCC. Goldman Sachs Group Inc. increased its stake in shares of 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 during the period. Moors & Cabot Inc. increased its position in Key Tronic by 26.9% in the 2nd quarter. Moors & Cabot Inc. now owns 127,550 shares of the technology company’s stock valued at $365,000 after acquiring an additional 27,000 shares during the period. Finally, Bensler LLC bought a new stake in Key Tronic during the 3rd quarter valued at $109,000. 40.69% of the stock is owned by institutional investors and hedge funds.

About Key Tronic

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.