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 Monday . The stock has a 200-day moving average of $39.74 and traded as low as $33.95. Kewaunee Scientific shares last traded at $33.9950, with a volume of 11,381 shares.

Wall Street Analysts Forecast Growth

KEQU has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Kewaunee Scientific in a report on Thursday, April 2nd. Wall Street Zen downgraded shares of Kewaunee Scientific from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Kewaunee Scientific Stock Up 2.1%

The company has a quick ratio of 1.45, a current ratio of 2.12 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $99.62 million, a price-to-earnings ratio of 9.33 and a beta of 0.67. The stock’s fifty day moving average price is $38.27 and its 200-day moving average price is $39.64.

Institutional Trading of Kewaunee Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. raised its holdings in shares of Kewaunee Scientific by 16.8% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 81,835 shares of the technology company’s stock valued at $3,061,000 after purchasing an additional 11,750 shares during the last quarter. Barclays PLC acquired a new stake in shares of Kewaunee Scientific in the fourth quarter valued at approximately $92,000. State Street Corp raised its holdings in shares of Kewaunee Scientific by 4.2% in the fourth quarter. State Street Corp now owns 10,034 shares of the technology company’s stock valued at $375,000 after purchasing an additional 400 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Kewaunee Scientific by 18.0% in the fourth quarter. Royce & Associates LP now owns 46,000 shares of the technology company’s stock valued at $1,721,000 after purchasing an additional 7,010 shares during the last quarter. Finally, Minerva Advisors LLC increased its holdings in Kewaunee Scientific by 51.8% during the fourth quarter. Minerva Advisors LLC now owns 121,863 shares of the technology company’s stock worth $4,559,000 after buying an additional 41,589 shares during the last quarter. 32.69% of the stock is currently owned by institutional investors and hedge funds.

Kewaunee Scientific Company Profile

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.