Kewaunee Scientific (NASDAQ:KEQU) Shares Cross Below 200 Day Moving Average – What’s Next?

Kewaunee Scientific Corporation (NASDAQ:KEQU)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $43.15 and traded as low as $40.61. Kewaunee Scientific shares last traded at $40.61, with a volume of 4,662 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Kewaunee Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Kewaunee Scientific currently has a consensus rating of “Hold”.

Kewaunee Scientific Stock Down 4.6%

The company has a market capitalization of $116.55 million, a price-to-earnings ratio of 10.31 and a beta of 0.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.48 and a quick ratio of 1.71. The firm’s fifty day moving average price is $39.03 and its 200-day moving average price is $43.15.

Kewaunee Scientific (NASDAQ:KEQU) last issued its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.91 earnings per share for the quarter. Kewaunee Scientific had a return on equity of 22.39% and a net margin of 4.11%.The business had revenue of $70.10 million for the quarter. During the same quarter in the prior year, the firm earned $1.01 EPS.

Insider Activity

In related news, CEO Thomas David Hull III sold 2,177 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $37.50, for a total value of $81,637.50. Following the completion of the transaction, the chief executive officer owned 33,000 shares in the company, valued at $1,237,500. This trade represents a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,719 shares of company stock valued at $179,028 over the last three months. Corporate insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Kewaunee Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEQU. Bank of America Corp DE raised its stake in shares of Kewaunee Scientific by 2,605.9% during the fourth quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock valued at $28,000 after acquiring an additional 443 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Kewaunee Scientific in the third quarter valued at $38,000. US Bancorp DE raised its position in 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 purchasing an additional 400 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kewaunee Scientific during the 2nd quarter worth $60,000. Finally, Barclays PLC acquired a new position in Kewaunee Scientific during the 4th quarter worth about $92,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.

About Kewaunee Scientific

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.