Short Interest in Knife River Co. (NYSE:KNF) Rises By 9.2%

Knife River Co. (NYSE:KNF) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, a growth of 9.2% from the October 31st total of 1,190,000 shares. Based on an average daily trading volume, of 376,900 shares, the short-interest ratio is presently 3.4 days.

Knife River Price Performance

Shares of KNF stock traded up $1.14 during mid-day trading on Tuesday, hitting $103.52. 276,001 shares of the stock were exchanged, compared to its average volume of 381,813. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.86 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.75 and a beta of 0.71. The firm has a fifty day moving average of $94.96 and a 200 day moving average of $82.01. Knife River has a 52-week low of $60.04 and a 52-week high of $105.63.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. Knife River’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. Research analysts anticipate that Knife River will post 3.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KNF. GAMMA Investing LLC lifted its stake in Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Huntington National Bank boosted its stake in Knife River by 586.0% during the third quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after buying an additional 293 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Knife River in the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Knife River in the 2nd quarter worth $43,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Knife River during the 3rd quarter worth $60,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Loop Capital decreased their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, DA Davidson increased their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.67.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.