Key Tronic Corporation (NASDAQ:KTCC) Stock Short Interest Jumps 125.6%

Key Tronic Corporation (NASDAQ:KTCC) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 49,116 shares, a growth of 125.6% from the September 15th total of 21,768 shares. Based on an average trading volume of 32,433 shares, the short-interest ratio is currently 1.5 days. Approximately 0.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Key Tronic

Several hedge funds have recently made changes to their positions in KTCC. Susquehanna International Group LLP acquired a new stake in shares of Key Tronic during the second quarter worth about $57,000. Bank of New York Mellon Corp purchased a new stake in shares of Key Tronic in the 2nd quarter valued at about $95,000. BlackRock Inc. acquired a new stake in shares of Key Tronic in the 2nd quarter valued at about $533,000. Sei Investments Co. boosted its position in shares of Key Tronic by 105.7% in the 1st quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock valued at $944,000 after purchasing an additional 177,591 shares during the period. Finally, Tieton Capital Management LLC acquired a new stake in shares of Key Tronic in the 2nd quarter valued at about $3,143,000. Hedge funds and other institutional investors own 40.69% of the company’s stock.

Key Tronic Trading Down 2.8%

Shares of Key Tronic stock opened at $2.06 on Tuesday. The company has a fifty day simple moving average of $2.88 and a 200-day simple moving average of $3.24. Key Tronic has a 12-month low of $2.04 and a 12-month high of $4.42. The company has a current ratio of 2.10, a quick ratio of 1.20 and a debt-to-equity ratio of 1.50. The stock has a market cap of $22.80 million, a price-to-earnings ratio of -0.47 and a beta of 1.16.

Key Tronic (NASDAQ:KTCC) last posted its earnings results on Thursday, August 27th. The technology company reported ($0.26) EPS for the quarter. Key Tronic had a negative net margin of 12.36% and a negative return on equity of 7.05%. The company had revenue of $102.03 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Key Tronic in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Key Tronic Company Profile

Key Tronic Corporation is an electronic manufacturing services provider that designs and manufactures products for original equipment manufacturers and other customers. The company offers integrated services spanning product design and engineering, prototyping, tooling, materials management, printed circuit board assembly, systems integration, final assembly, testing, packaging and fulfillment.

In addition to electronic assemblies, Key Tronic produces molded and painted plastic components, mechanical assemblies and complete finished products.