Daktronics, Inc. (NASDAQ:DAKT) Short Interest Up 22.2% in March
by Sarita Garza · The Markets DailyDaktronics, Inc. (NASDAQ:DAKT – Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 1,531,741 shares, a growth of 22.2% from the February 26th total of 1,253,531 shares. Based on an average daily volume of 801,704 shares, the days-to-cover ratio is currently 1.9 days. Approximately 3.3% of the shares of the company are sold short.
Institutional Investors Weigh In On Daktronics
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Daktronics by 399.2% in the 2nd quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after buying an additional 408,037 shares during the last quarter. Boston Partners acquired a new position in Daktronics in the 4th quarter valued at approximately $6,248,000. Breach Inlet Capital Management LLC lifted its holdings in shares of Daktronics by 32.8% during the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock worth $25,158,000 after purchasing an additional 314,133 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Daktronics in the fourth quarter worth $5,364,000. Finally, AQR Capital Management LLC increased its holdings in Daktronics by 322.5% in the fourth quarter. AQR Capital Management LLC now owns 314,874 shares of the technology company’s stock valued at $6,225,000 after purchasing an additional 240,349 shares during the period. Institutional investors own 61.69% of the company’s stock.
Daktronics Price Performance
NASDAQ DAKT traded down $0.11 on Monday, hitting $19.15. 279,582 shares of the company’s stock were exchanged, compared to its average volume of 565,619. Daktronics has a 52 week low of $10.92 and a 52 week high of $28.27. The stock has a 50-day moving average of $23.46 and a 200-day moving average of $21.08. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. The stock has a market cap of $924.67 million, a price-to-earnings ratio of 34.77, a P/E/G ratio of 0.61 and a beta of 1.70.
Daktronics (NASDAQ:DAKT – Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). Daktronics had a return on equity of 16.55% and a net margin of 3.43%.The business had revenue of $181.87 million for the quarter, compared to analyst estimates of $181.00 million. Analysts expect that Daktronics will post 0.96 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on DAKT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Zacks Research lowered Daktronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Daktronics presently has a consensus rating of “Hold”.
View Our Latest Report on Daktronics
Daktronics Company Profile
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.