Kewaunee Scientific (NASDAQ:KEQU) Share Price Crosses Below Two Hundred Day Moving Average on Insider Selling

Kewaunee Scientific Corporation (NASDAQ:KEQU)’s share price passed below its 200-day moving average during trading on Wednesday following insider selling activity. The stock has a 200-day moving average of $45.34 and traded as low as $43.04. Kewaunee Scientific shares last traded at $44.20, with a volume of 7,139 shares.

Specifically, CEO Thomas David Hull III sold 1,854 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $43.42, for a total value of $80,500.68. Following the sale, the chief executive officer owned 39,719 shares in the company, valued at $1,724,598.98. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Kewaunee Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th.

Kewaunee Scientific Trading Down 2.0%

The company has a current ratio of 2.32, a quick ratio of 1.63 and a debt-to-equity ratio of 0.88. The firm has a market cap of $124.13 million, a PE ratio of 10.49 and a beta of 0.68. The company has a 50-day simple moving average of $51.96 and a 200 day simple moving average of $45.29.

Kewaunee Scientific (NASDAQ:KEQU) last posted its earnings results on Wednesday, September 10th. The technology company reported $1.10 earnings per share (EPS) for the quarter. The firm had revenue of $71.10 million during the quarter. Kewaunee Scientific had a net margin of 4.68% and a return on equity of 25.65%.

Institutional Investors Weigh In On Kewaunee Scientific

Hedge funds have recently modified their holdings of the company. Mink Brook Asset Management LLC purchased a new position in shares of Kewaunee Scientific during the 2nd quarter valued at approximately $370,000. Raymond James Financial Inc. acquired a new position in Kewaunee Scientific during the second quarter worth $60,000. First Trust Advisors LP lifted its holdings in Kewaunee Scientific by 3.4% during the second quarter. First Trust Advisors LP now owns 6,726 shares of the technology company’s stock valued at $395,000 after purchasing an additional 222 shares in the last quarter. Minerva Advisors LLC grew its position in shares of Kewaunee Scientific by 5.0% in the second quarter. Minerva Advisors LLC now owns 77,442 shares of the technology company’s stock valued at $4,501,000 after purchasing an additional 3,677 shares during the period. Finally, De Lisle Partners LLP increased its stake in shares of Kewaunee Scientific by 6.7% during the second quarter. De Lisle Partners LLP now owns 47,977 shares of the technology company’s stock worth $2,811,000 after purchasing an additional 3,029 shares in the last quarter. 32.69% of the stock is owned by hedge funds and other institutional investors.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.