Kimball Electronics (NASDAQ:KE) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Kimball Electronics (NASDAQ:KE) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Shares of KE stock opened at $14.30 on Wednesday. Kimball Electronics has a 12-month low of $13.51 and a 12-month high of $20.40. The company has a current ratio of 1.97, a quick ratio of 1.23 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $15.39 and its 200-day moving average price is $15.67. The stock has a market capitalization of $352.56 million, a price-to-earnings ratio of 11.56 and a beta of 1.02.

A number of hedge funds and other institutional investors have recently modified their holdings of KE. Russell Investments Group Ltd. increased its stake in Kimball Electronics by 175.7% during the second quarter. Russell Investments Group Ltd. now owns 723,783 shares of the electronics maker’s stock worth $11,752,000 after acquiring an additional 461,238 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Kimball Electronics during the second quarter worth approximately $2,846,000. Ancora Advisors LLC increased its stake in Kimball Electronics by 54.9% during the second quarter. Ancora Advisors LLC now owns 292,195 shares of the electronics maker’s stock worth $4,745,000 after acquiring an additional 103,568 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Kimball Electronics by 65.9% during the second quarter. CIBC Private Wealth Group LLC now owns 146,368 shares of the electronics maker’s stock worth $2,377,000 after acquiring an additional 58,148 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in Kimball Electronics during the first quarter worth approximately $750,000. 61.22% of the stock is currently owned by institutional investors.



About Kimball Electronics

Kimball Electronics, Inc, a contract electronic manufacturing services company, engages in producing various electronics for the automotive, medical, industrial, and public safety end markets. The company's engineering, manufacturing, and supply chain services include design services and support, supply chain services and support, and rapid prototyping and product introduction support services, as well as product design, and process validation and qualification services.

Further Reading: Oversold

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