Key Tronic (NASDAQ:KTCC) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Key Tronic Corporation (NASDAQ:KTCC)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $3.29 and traded as low as $2.16. Key Tronic shares last traded at $2.19, with a volume of 17,983 shares trading hands.

Wall Street Analyst Weigh In

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

Key Tronic Trading Down 0.9%

The business’s 50 day simple moving average is $3.26 and its two-hundred day simple moving average is $3.28. The stock has a market cap of $23.57 million, a P/E ratio of -0.49 and a beta of 1.14. The company has a quick ratio of 1.21, a current ratio of 2.06 and a debt-to-equity ratio of 0.95.

Key Tronic (NASDAQ:KTCC) last announced its quarterly 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 6.42%. The firm had revenue of $102.03 million during the quarter.

Hedge Funds Weigh In On Key Tronic

Several large investors have recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of Key Tronic by 105.7% during the first quarter. Sei Investments Co. now owns 345,650 shares of the technology company’s stock worth $944,000 after purchasing an additional 177,591 shares during the last quarter. Tieton Capital Management LLC bought a new position in Key Tronic in the 2nd quarter valued at approximately $3,143,000. Susquehanna International Group LLP acquired a new stake in Key Tronic during the 2nd quarter worth approximately $57,000. BlackRock Inc. acquired a new stake in Key Tronic during the 2nd quarter worth approximately $533,000. Finally, Bank of New York Mellon Corp bought a new stake in Key Tronic during the 2nd quarter worth approximately $95,000. 40.69% of the stock is currently owned by institutional investors.

Key Tronic Company Profile

Key Tronic Corporation is an electronics manufacturing services (EMS) provider that designs, engineers, manufactures and distributes electronic and mechanical products for original equipment manufacturers. The company offers integrated production capabilities that can include printed circuit board assembly, product and tooling design, injection molding, metal stamping, electromechanical assembly, final product assembly, testing, packaging and fulfillment.

Key Tronic serves customers across industries such as consumer electronics, industrial equipment, medical devices, aerospace and defense, automotive and computer-related products.