Price Action Alert: Could Kimball Electronics Inc Go Down After Achieving 52-Week High?

Price Action Alert: Could Kimball Electronics Inc Go Down After Achieving 52 Week High?

The stock of Kimball Electronics Inc (NASDAQ:KE) hit a new 52-week high and has $33.44 target or 138.00% above today’s $14.05 share price. The 9 months bullish chart indicates low risk for the $392.87M company. The 1-year high was reported on Nov, 4 by Barchart.com. If the $33.44 price target is reached, the company will be worth $542.16 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 61,914 shares traded hands. Kimball Electronics Inc (NASDAQ:KE) has risen 24.89% since April 4, 2016 and is uptrending. It has outperformed by 23.80% the S&P500.

According to Zacks Investment Research, “Kimball Electronics Inc. operates as a contract manufacturer of durable goods electronics. The Company specializes in durable electronics for the medical, automotive, industrial and public safety markets. It provides design, engineering, manufacturing, packaging, and distribution of electronic assemblies and circuit boards on a contract basis to a variety of industries. The Company has manufacturing operations primarily in the United States, Mexico, Thailand, Poland, and China. Kimball Electronics Inc. is headquartered in Jasper, Indiana.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.55, from 1.68 in 2016Q1. The ratio dropped, as 8 funds sold all Kimball Electronics Inc shares owned while 30 reduced positions. 14 funds bought stakes while 29 increased positions. They now own 15.14 million shares or 1.75% more from 14.88 million shares in 2016Q1.
The Germany-based Deutsche Bank & Trust Ag has invested 0% in Kimball Electronics Inc (NASDAQ:KE). Teton Inc holds 250,000 shares or 0.28% of its portfolio. The New York-based Spark Inv Management Ltd Com has invested 0.04% in Kimball Electronics Inc (NASDAQ:KE). Moreover, Mizuho And Ltd has 0% invested in Kimball Electronics Inc (NASDAQ:KE) for 68,655 shares. Blackrock Grp Inc Ltd has 13,071 shares for 0% of their US portfolio. Counselors Inc reported 15,744 shares or 0.01% of all its holdings. Morgan Stanley reported 14,391 shares or 0% of all its holdings. Legal And General Grp Pcl, a United Kingdom-based fund reported 3,976 shares. Natl Bank Of New York Mellon reported 178,165 shares or 0% of all its holdings. The New York-based Secor Cap Advsrs L P has invested 0.07% in Kimball Electronics Inc (NASDAQ:KE). Moreover, Rhumbline Advisers has 0% invested in Kimball Electronics Inc (NASDAQ:KE) for 39,807 shares. Babson Mngmt Ltd Llc, a Massachusetts-based fund reported 196,229 shares. Moreover, Citigroup Inc has 0% invested in Kimball Electronics Inc (NASDAQ:KE) for 4,689 shares. Swiss National Bank owns 46,400 shares or 0% of their US portfolio. The New York-based Donald Smith And Inc has invested 0.38% in Kimball Electronics Inc (NASDAQ:KE).

More notable recent Kimball Electronics Inc (NASDAQ:KE) news were published by: Nasdaq.com which released: “Kimball Electronics, Inc. Reports First Quarter Fiscal Year 2017 Results” on November 02, 2016, also Benzinga.com with their article: “Stocks Hitting 52-Week Highs” published on November 04, 2016, Globenewswire.com published: “Kimball Electronics, Inc. Announces Resignation of Director Christopher B. Curtis” on September 12, 2016. More interesting news about Kimball Electronics Inc (NASDAQ:KE) were released by: Globenewswire.com and their article: “Kimball Electronics, Inc. Announces Live Webcast of Fourth Quarter Fiscal Year …” published on July 25, 2016 as well as Globenewswire.com‘s news article titled: “Kimball Electronics, Inc. Announces Annual Share Owners Meeting” with publication date: October 10, 2016.

KE Company Profile

Kimball Electronics, Inc. (Kimball Electronics), incorporated on July 14, 1998, is an electronics manufacturing services (EMS) company. The Firm is engaged in producing electronics for the automotive, medical, industrial and public safety markets. The Firm provides design, engineering, manufacturing, packaging, and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries. The Firm offers various engineering, manufacturing and supply chain services, such as design services; production and testing of printed circuit board assemblies (PCBAS); industrialization and automation of manufacturing processes; product design and process validation and qualification; reliability testing, which include testing of products under a series of environmental conditions; assembly, production and packaging of other related non-electronic products; supply chain services, and product life cycle management. The Firm is engaged in producing safety critical electronic assemblies for the automotive market.

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