Key Tronic Co. (NASDAQ:KTCC – Get Rating) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 23,900 shares, a decline of 12.1% from the July 31st total of 27,200 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 10,000 shares, the short-interest ratio is currently 2.4 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Key Tronic in a report on Thursday, August 25th. They issued a "hold" rating on the stock.
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Key Tronic Stock Down 4.2 %
Shares of NASDAQ:KTCC traded down $0.21 on Wednesday, reaching $4.76. The company had a trading volume of 10,879 shares, compared to its average volume of 10,833. Key Tronic has a 52-week low of $4.24 and a 52-week high of $7.00. The firm's 50 day simple moving average is $4.75 and its 200-day simple moving average is $5.21. The firm has a market capitalization of $51.22 million, a PE ratio of 15.87 and a beta of 1.54. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.89.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in KTCC. State Street Corp purchased a new position in Key Tronic during the 1st quarter worth $66,000. Shufro Rose & Co. LLC purchased a new position in Key Tronic during the 1st quarter worth $110,000. Ancora Advisors LLC grew its stake in Key Tronic by 20.3% during the 1st quarter. Ancora Advisors LLC now owns 119,073 shares of the technology company's stock worth $918,000 after buying an additional 20,100 shares during the last quarter. Vanguard Group Inc. grew its stake in Key Tronic by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 436,002 shares of the technology company's stock worth $2,463,000 after buying an additional 24,521 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Key Tronic by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 797,145 shares of the technology company's stock worth $4,504,000 after buying an additional 7,277 shares during the last quarter. 43.10% of the stock is currently owned by hedge funds and other institutional investors.
Key Tronic Company Profile
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Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; automated tape winding; prototype design; and full product assembly services.
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