Key Tronic Co. (NASDAQ:KTCC) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 60,900 shares, an increase of 54.2% from the July 31st total of 39,500 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 17,300 shares, the days-to-cover ratio is currently 3.5 days.

Separately, TheStreet upgraded shares of Key Tronic from a “d” rating to a “c-” rating in a research report on Wednesday, August 7th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Key Tronic by 6.4% in the second quarter. BlackRock Inc. now owns 55,571 shares of the technology company’s stock valued at $278,000 after purchasing an additional 3,346 shares during the period. Moors & Cabot Inc. grew its position in shares of Key Tronic by 7.4% in the first quarter. Moors & Cabot Inc. now owns 370,050 shares of the technology company’s stock valued at $2,280,000 after purchasing an additional 25,375 shares during the period. Tieton Capital Management LLC grew its position in shares of Key Tronic by 6.2% in the second quarter. Tieton Capital Management LLC now owns 867,241 shares of the technology company’s stock valued at $4,319,000 after purchasing an additional 50,408 shares during the period. Finally, Morgan Stanley grew its position in shares of Key Tronic by 12.3% in the second quarter. Morgan Stanley now owns 1,076,497 shares of the technology company’s stock valued at $5,361,000 after purchasing an additional 118,200 shares during the period. Institutional investors and hedge funds own 46.21% of the company’s stock.

Shares of NASDAQ KTCC traded down $0.05 during trading on Friday, hitting $5.66. The company had a trading volume of 2,010 shares, compared to its average volume of 21,880. The stock has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $5.47. Key Tronic has a fifty-two week low of $4.83 and a fifty-two week high of $7.98. The firm has a market capitalization of $54.45 million, a price-to-earnings ratio of 14.51 and a beta of 0.39. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.24.

Key Tronic (NASDAQ:KTCC) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Key Tronic had a negative net margin of 1.72% and a positive return on equity of 3.47%. The business had revenue of $105.58 million for the quarter.

About Key Tronic

Key Tronic Corporation, doing business as KeyTronicEMS Co, provides electronic manufacturing services (EMS) and solutions 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.

Further Reading: Neutral Rating

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