Kewaunee Scientific (NASDAQ:KEQU) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Kewaunee Scientific Corporation (NASDAQ:KEQU) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.84 and traded as low as $35.97. Kewaunee Scientific shares last traded at $36.31, with a volume of 5,926 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kewaunee Scientific in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Kewaunee Scientific Stock Up 2.5%

The company has a current ratio of 2.18, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $105.01 million, a P/E ratio of 11.36 and a beta of 0.71. The company’s 50 day moving average price is $37.60 and its two-hundred day moving average price is $37.81.

Kewaunee Scientific (NASDAQ:KEQU) last announced its earnings results on Tuesday, June 23rd. The technology company reported $1.14 earnings per share (EPS) for the quarter. Kewaunee Scientific had a net margin of 3.41% and a return on equity of 14.10%. The company had revenue of $71.40 million during the quarter. During the same quarter last year, the firm posted $1.95 earnings per share.

Institutional Investors Weigh In On Kewaunee Scientific

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock worth $28,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE increased its position in Kewaunee Scientific by 80.0% in the third quarter. US Bancorp DE now owns 900 shares of the technology company’s stock worth $38,000 after buying an additional 400 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kewaunee Scientific in the second quarter worth about $60,000. Barclays PLC bought a new position in shares of Kewaunee Scientific in the fourth quarter worth about $92,000. Finally, Jane Street Group LLC lifted its position in shares of Kewaunee Scientific by 65.8% during the 1st quarter. Jane Street Group LLC now owns 8,052 shares of the technology company’s stock valued at $317,000 after buying an additional 3,196 shares in the last quarter. Institutional investors own 32.69% of the company’s stock.

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.