Short Interest in Kemet Corporation (KEM) Decreases By 40.7%
Kemet Corporation (NYSE:KEM) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,604,260 shares, a decrease of 40.7% from the November 30th total of 2,706,612 shares. Based on an average trading volume of 2,067,998 shares, the short-interest ratio is currently 0.8 days. Currently, 3.2% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Kemet from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine downgraded shares of Kemet from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet downgraded shares of Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $27.50 price objective on shares of Kemet in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.50.
In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total value of $352,200.24. Following the sale, the chief financial officer now directly owns 523,038 shares of the company’s stock, valued at approximately $8,410,451.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.88% of the stock is owned by corporate insiders.
Shares of Kemet (NYSE KEM) opened at $16.16 on Wednesday. Kemet has a twelve month low of $6.27 and a twelve month high of $27.35. The stock has a market cap of $911.13, a price-to-earnings ratio of 3.29 and a beta of 3.45. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75.
Kemet (NYSE:KEM) last announced its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The firm had revenue of $301.47 million for the quarter, compared to the consensus estimate of $298.51 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was up 60.9% compared to the same quarter last year. analysts anticipate that Kemet will post 1.44 EPS for the current fiscal year.
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Kemet Company Profile
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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