Daktronics, Inc. (NASDAQ:DAKT) Short Interest Down 17.1% in February

by · The Markets Daily

Daktronics, Inc. (NASDAQ:DAKT – Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 1,162,715 shares, a decrease of 17.1% from the January 29th total of 1,402,662 shares. Based on an average trading volume of 745,036 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.5% of the company’s stock are sold short. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 745,036 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Daktronics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Daktronics during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its position in Daktronics by 22,566.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,354 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Daktronics in the 3rd quarter valued at $43,000. Northwestern Mutual Wealth Management Co. raised its position in Daktronics by 204.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Clearstead Advisors LLC acquired a new stake in Daktronics during the 4th quarter worth approximately $57,000. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Up 3.1%

DAKT stock opened at $26.57 on Tuesday. Daktronics has a fifty-two week low of $10.24 and a fifty-two week high of $28.27. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 204.40, a P/E/G ratio of 0.75 and a beta of 1.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71. The business has a fifty day moving average price of $23.08 and a 200 day moving average price of $20.56.

Daktronics (NASDAQ:DAKT – Get Free Report) last released its earnings results on Wednesday, December 10th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Daktronics had a return on equity of 15.42% and a net margin of 0.96%.The company had revenue of $229.25 million during the quarter, compared to analysts’ expectations of $213.93 million. During the same period last year, the firm earned $0.27 EPS. Analysts expect that Daktronics will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DAKT shares. Zacks Research downgraded Daktronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

View Our Latest Research Report on Daktronics

About Daktronics

(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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