Key Tronic Corporation (KTCC) Stock Faces Higher Risks Forward After Forming Bearish Multiple Bottom Pattern

December 8, 2017 - By Linda Rogers

Investors sentiment decreased to 0.63 in 2017 Q2. Its down 0.51, from 1.14 in 2017Q1. It worsened, as 4 investors sold Key Tronic Corporation shares while 12 reduced holdings. 2 funds opened positions while 8 raised stakes. 4.48 million shares or 0.61% more from 4.45 million shares in 2017Q1 were reported.
Northern Trust Corp accumulated 33,691 shares or 0% of the stock. Obermeyer Wood Inv Counsel Lllp owns 10,100 shares or 0.01% of their US portfolio. Ancora Advsr Ltd Limited Liability Company stated it has 0.02% in Key Tronic Corporation (NASDAQ:KTCC). Creative Planning accumulated 1,164 shares. Citigroup invested in 0% or 1,884 shares. Tower Rech Cap Ltd Liability Corp (Trc) has invested 0% in Key Tronic Corporation (NASDAQ:KTCC). Dimensional Fund Advsr Limited Partnership reported 905,027 shares. Brandywine Global Invest Mgmt Ltd Co invested in 7,703 shares. Osborne Ptnrs Cap Mgmt Limited Liability reported 57,300 shares. Cwh Capital Management Inc holds 72,475 shares. Goldman Sachs Grp Inc reported 17,817 shares. Bridgeway Cap Mgmt reported 0.01% of its portfolio in Key Tronic Corporation (NASDAQ:KTCC). Connor Clark And Lunn Mngmt has invested 0% in Key Tronic Corporation (NASDAQ:KTCC). Blackrock holds 120,970 shares or 0% of its portfolio. The Germany-based Deutsche Savings Bank Ag has invested 0% in Key Tronic Corporation (NASDAQ:KTCC).

The stock of Key Tronic Corporation (KTCC) shows a multiple bottoms pattern with $6.36 target or 9.00 % below today’s $6.99 share price. The 5 months chart pattern indicates high risk for the $75.21 million company. It was reported on Dec, 8 by Finviz.com. If the $6.36 price target is reached, the company will be worth $6.77 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.72% or $0.05 during the last trading session, reaching $6.99. About 36,980 shares traded or 94.20% up from the average. Key Tronic Corporation (NASDAQ:KTCC) has declined 8.47% since December 8, 2016 and is downtrending. It has underperformed by 25.17% the S&P500.

Analysts await Key Tronic Corporation (NASDAQ:KTCC) to report earnings on January, 30. They expect $0.11 earnings per share, down 21.43 % or $0.03 from last year’s $0.14 per share. KTCC’s profit will be $1.18M for 15.89 P/E if the $0.11 EPS becomes a reality. After $0.04 actual earnings per share reported by Key Tronic Corporation for the previous quarter, Wall Street now forecasts 175.00 % EPS growth.

Key Tronic Corporation (NASDAQ:KTCC) Ratings Coverage

Among 2 analysts covering Key Tronic (NASDAQ:KTCC), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Key Tronic had 3 analyst reports since August 19, 2015 according to SRatingsIntel. The stock of Key Tronic Corporation (NASDAQ:KTCC) earned “Hold” rating by TheStreet on Friday, October 16. On Tuesday, September 22 the stock rating was upgraded by TheStreet to “Buy”.

More notable recent Key Tronic Corporation (NASDAQ:KTCC) news were published by: Newsday.com which released: “Cemtrex presses bid to acquire much larger Key Tronic Corp.” on October 05, 2017, also Globenewswire.com with their article: “Cemtrex Addresses Contentions in Key Tronic Corp.’s Last Release; Asks …” published on September 26, 2017, Globenewswire.com published: “Key Tronic Corporation Comments on Cemtrex Release” on September 15, 2017. More interesting news about Key Tronic Corporation (NASDAQ:KTCC) were released by: Globenewswire.com and their article: “Cemtrex Announces Exchange Offer to Acquire Key Tronic Corp.” published on September 05, 2017 as well as Globenewswire.com‘s news article titled: “Key Tronic Corporation Announces Results for the Second Quarter of Fiscal Year …” with publication date: January 31, 2017.

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