Key Tronic Co. (NASDAQ:KTCC) Sees Large Decline in Short Interest

Key Tronic Co. (NASDAQ:KTCC) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 12,000 shares, a decline of 15.5% from the February 28th total of 14,200 shares. Based on an average daily volume of 38,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Key Tronic Stock Performance

Key Tronic stock traded down $0.01 during midday trading on Thursday, hitting $2.57. The company’s stock had a trading volume of 19,918 shares, compared to its average volume of 26,161. The company has a 50-day moving average price of $3.08 and a two-hundred day moving average price of $4.45. Key Tronic has a 1-year low of $2.50 and a 1-year high of $6.14. The company has a market cap of $27.66 million, a price-to-earnings ratio of -4.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.78 and a quick ratio of 1.71.

Key Tronic (NASDAQ:KTCC) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.38) earnings per share (EPS) for the quarter. Key Tronic had a negative net margin of 1.17% and a negative return on equity of 3.23%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Key Tronic in a research report on Friday, March 28th. They set a “strong-buy” rating on the stock.

Institutional Trading of Key Tronic

Several large investors have recently modified their holdings of KTCC. Northern Trust Corp lifted its position in Key Tronic by 59.3% during the fourth quarter. Northern Trust Corp now owns 52,423 shares of the technology company’s stock worth $219,000 after purchasing an additional 19,513 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Key Tronic by 9.3% during the 4th quarter. Kennedy Capital Management LLC now owns 141,625 shares of the technology company’s stock worth $591,000 after acquiring an additional 12,023 shares during the period. Renaissance Technologies LLC boosted its position in shares of Key Tronic by 63.5% during the 4th quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock worth $397,000 after acquiring an additional 37,000 shares in the last quarter. Tieton Capital Management LLC raised its position in Key Tronic by 23.1% during the fourth quarter. Tieton Capital Management LLC now owns 749,083 shares of the technology company’s stock valued at $3,124,000 after purchasing an additional 140,573 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Key Tronic during the third quarter worth $63,000. 40.69% of the stock is owned by institutional investors and hedge funds.

About Key Tronic

Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; prototype design; and full product assembly services.