Daktronics, Inc. (NASDAQ:DAKT) Short Interest Up 36.0% in December

by · The Cerbat Gem

Daktronics, Inc. (NASDAQ:DAKT – Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,473,252 shares, an increase of 36.0% from the December 15th total of 1,083,137 shares. Based on an average daily trading volume, of 596,811 shares, the days-to-cover ratio is presently 2.5 days. Approximately 3.2% of the company’s shares are short sold. Approximately 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 596,811 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Daktronics

Several institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Daktronics by 0.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock worth $1,503,000 after purchasing an additional 665 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after purchasing an additional 728 shares during the period. Exchange Traded Concepts LLC increased its holdings in Daktronics by 5.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,195 shares of the technology company’s stock worth $261,000 after purchasing an additional 730 shares during the period. Verition Fund Management LLC grew its holdings in Daktronics by 3.3% during the 3rd quarter. Verition Fund Management LLC now owns 27,983 shares of the technology company’s stock worth $585,000 after acquiring an additional 898 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Daktronics by 12.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,902 shares of the technology company’s stock worth $207,000 after acquiring an additional 1,097 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Daktronics Price Performance

Shares of DAKT opened at $21.69 on Friday. Daktronics has a twelve month low of $10.24 and a twelve month high of $24.38. The firm has a 50 day moving average of $19.22 and a 200 day moving average of $18.71. The company has a quick ratio of 1.71, a current ratio of 2.23 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.06 billion, a P/E ratio of 166.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Daktronics (NASDAQ:DAKT – Get Free Report) last issued its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $229.25 million for the quarter, compared to analysts’ expectations of $213.93 million. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. During the same quarter last year, the company posted $0.27 earnings per share. As a group, equities research analysts anticipate that Daktronics will post 0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DAKT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Zacks Research cut shares of Daktronics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Daktronics presently has an average rating of “Hold” and an average price target of $26.00.

View Our Latest Report on DAKT

Daktronics Company Profile

(Get Free Report)

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.

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