Nortech Systems Incorporated (NASDAQ:NSYS) Short Interest Down 56.8% in March

Nortech Systems Incorporated (NASDAQ:NSYS) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,900 shares, a drop of 56.8% from the February 29th total of 4,400 shares. Based on an average daily volume of 4,400 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are sold short.

Nortech Systems Price Performance

Shares of Nortech Systems stock traded up $0.14 on Thursday, hitting $13.35. 5,218 shares of the company traded hands, compared to its average volume of 4,854. Nortech Systems has a 12-month low of $7.45 and a 12-month high of $14.35. The firm’s 50-day simple moving average is $11.35 and its 200 day simple moving average is $9.88. The company has a market cap of $36.58 million, a P/E ratio of 5.61 and a beta of 0.68. The company has a current ratio of 2.21, a quick ratio of 1.40 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Nortech Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Nortech Systems by 61.9% in the 2nd quarter. Royal Bank of Canada now owns 10,200 shares of the electronics maker’s stock worth $99,000 after acquiring an additional 3,900 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Nortech Systems by 3.8% in the second quarter. Renaissance Technologies LLC now owns 54,059 shares of the electronics maker’s stock worth $524,000 after purchasing an additional 2,000 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Nortech Systems during the fourth quarter valued at about $135,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Nortech Systems in the third quarter worth about $106,000. 3.05% of the stock is currently owned by hedge funds and other institutional investors.

Nortech Systems Company Profile

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.