In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Key Technology Inc. (NASDAQ:KTEC) reported that Harbert Discovery Fund, Lp. has picked up 337,495 of common stock as of 2017-04-07.
The acquisition brings the aggregate amount owned by Harbert Discovery Fund, Lp to a total of 337,495 representing a 5.3% stake in the company.
For those not familiar with the company, Key Technology, Inc. is a supplier of process automation solutions to the food processing industry and other industries, such as tobacco and pharmaceuticals. The Company designs, manufactures, sells and services automation equipment that processes product streams of discrete pieces. These systems integrate electro-optical automated inspection and digital sorting systems with other processing systems that include specialized conveying and preparation equipment. The Company provides parts and service for each of its product lines to customers around the world. Its automated inspection systems are used in various applications to detect and remove defects and foreign material from the product stream. It offers conveying and processing equipment, which are utilized throughout various industries to move and process product within a production plant. Its Integrated Solutions Group (ISG) provides integrated whole-line solutions. It has an installed base of inspection and processing systems.
A glance at Key Technology Inc. (NASDAQ:KTEC)’s key stats reveals a current market capitalization of 84.38 Million based on 6.40 Million shares outstanding and a price at last close of $13.15 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-28, Pvam picked up 80,500 at a purchase price of $13.10. This brings their total holding to 617,359 as of the date of the filing.
On the sell side, the most recent transaction saw Nichols unload 130 shares at a sale price of $12.54. This brings their total holding to 42,122.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Key Technology Inc. (NASDAQ:KTEC) as things move forward to see if its progress aligns with these transactions.
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