Daktronics, Inc. (NASDAQ:DAKT) Sees Large Decline in Short Interest

Daktronics, Inc. (NASDAQ:DAKT) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 2,840,000 shares, a decrease of 8.1% from the August 31st total of 3,090,000 shares. Based on an average daily trading volume, of 616,500 shares, the short-interest ratio is currently 4.6 days. Currently, 6.9% of the shares of the company are short sold.

Insider Activity

In related news, EVP Bradley T. Wiemann sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $13.60, for a total value of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares of the company’s stock, valued at $1,803,115.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Matthew John Kurtenbach sold 2,000 shares of Daktronics stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the sale, the vice president now directly owns 208,906 shares in the company, valued at $3,125,233.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 7,500 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the sale, the executive vice president now owns 132,582 shares in the company, valued at $1,803,115.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,954 shares of company stock valued at $472,570. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Daktronics

A number of institutional investors have recently bought and sold shares of DAKT. Kovack Advisors Inc. raised its stake in Daktronics by 22.8% in the first quarter. Kovack Advisors Inc. now owns 393,100 shares of the technology company’s stock worth $3,915,000 after buying an additional 72,900 shares in the last quarter. Breach Inlet Capital Management LLC acquired a new stake in Daktronics in the fourth quarter valued at approximately $11,508,000. GSA Capital Partners LLP acquired a new position in Daktronics during the first quarter worth $586,000. Wealth Enhancement Advisory Services LLC purchased a new position in Daktronics during the first quarter valued at $7,482,000. Finally, First Bank & Trust grew its position in shares of Daktronics by 29.5% in the first quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock valued at $9,932,000 after purchasing an additional 227,108 shares during the period. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Trading Up 2.7 %

NASDAQ DAKT traded up $0.35 during trading on Tuesday, hitting $13.26. 656,211 shares of the company’s stock traded hands, compared to its average volume of 522,322. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The stock has a fifty day moving average of $13.79 and a two-hundred day moving average of $12.06. The firm has a market cap of $613.88 million, a P/E ratio of 21.66, a PEG ratio of 0.44 and a beta of 1.14. Daktronics has a 12-month low of $7.20 and a 12-month high of $15.97.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The firm had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. As a group, sell-side analysts expect that Daktronics will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DAKT shares. Singular Research upgraded Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com lowered shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Friday, September 13th.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.