Short Interest in Kemet Corporation (KEM) Increases By 76.0%

Kemet Corporation (NYSE:KEM) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,454,020 shares, an increase of 76.0% from the October 31st total of 1,962,929 shares. Based on an average daily trading volume, of 4,336,847 shares, the days-to-cover ratio is currently 0.8 days. Currently, 8.4% of the company’s shares are short sold.

Shares of Kemet (NYSE KEM) opened at $14.72 on Tuesday. Kemet has a 52-week low of $5.62 and a 52-week high of $27.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.51 and a quick ratio of 1.73. The stock has a market cap of $871.09, a price-to-earnings ratio of 15.93 and a beta of 3.44.

Kemet (NYSE:KEM) last posted its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $301.47 million during the quarter, compared to the consensus estimate of $298.51 million. Kemet had a net margin of 31.16% and a return on equity of 21.07%. Kemet’s revenue was up 60.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. equities analysts forecast that Kemet will post 1.44 earnings per share for the current year.

In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the completion of the sale, the chief financial officer now owns 523,038 shares of the company’s stock, valued at approximately $8,410,451.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Teachers Advisors LLC purchased a new position in Kemet during the 2nd quarter worth $1,039,000. NJ State Employees Deferred Compensation Plan purchased a new position in Kemet during the 3rd quarter worth $845,000. Alliancebernstein L.P. purchased a new position in Kemet during the 2nd quarter worth $694,000. IFP Advisors Inc purchased a new position in Kemet during the 3rd quarter worth $459,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Kemet by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after acquiring an additional 179,841 shares during the last quarter. 69.90% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. ValuEngine downgraded shares of Kemet from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of Kemet from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, October 6th. B. Riley reissued a “buy” rating and issued a $27.50 price target on shares of Kemet in a research report on Tuesday, October 31st. BidaskClub raised shares of Kemet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Finally, TheStreet downgraded shares of Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.50.

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About Kemet

KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.

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