Key Tronic Co. (NASDAQ:KTCC – Get Rating) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 30,900 shares, an increase of 29.3% from the August 15th total of 23,900 shares. Approximately 0.3% of the company's stock are sold short. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is presently 3.4 days.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Key Tronic in a report on Saturday, September 10th. They set a "hold" rating on the stock.
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Institutional Trading of Key Tronic
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Key Tronic by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 797,145 shares of the technology company's stock worth $4,504,000 after purchasing an additional 7,277 shares in the last quarter. State Street Corp acquired a new position in shares of Key Tronic in the 1st quarter valued at $66,000. Shufro Rose & Co. LLC purchased a new stake in Key Tronic in the 1st quarter valued at $110,000. Ancora Advisors LLC raised its position in Key Tronic by 20.3% in the 1st quarter. Ancora Advisors LLC now owns 119,073 shares of the technology company's stock valued at $918,000 after purchasing an additional 20,100 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Key Tronic by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 436,002 shares of the technology company's stock valued at $2,463,000 after purchasing an additional 24,521 shares during the last quarter. Institutional investors and hedge funds own 43.10% of the company's stock.
Key Tronic Stock Down 2.7 %
KTCC stock opened at $4.28 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.15 and a debt-to-equity ratio of 0.89. Key Tronic has a twelve month low of $4.24 and a twelve month high of $6.94. The company's 50 day moving average is $4.78 and its two-hundred day moving average is $5.09. The stock has a market cap of $46.06 million, a P/E ratio of 14.27 and a beta of 1.54.
About Key Tronic
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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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