Daktronics (NASDAQ:DAKT) Stock Price Up 4.4% – Time to Buy?

Daktronics, Inc. (NASDAQ:DAKT) shares traded up 4.4% on Tuesday . The stock traded as high as $19.10 and last traded at $19.07. 202,144 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 505,150 shares. The stock had previously closed at $18.27.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The company has a market cap of $904.01 million, a price-to-earnings ratio of 73.08, a PEG ratio of 0.73 and a beta of 1.19. The firm’s 50-day moving average price is $14.41 and its 200 day moving average price is $13.60.

Insiders Place Their Bets

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. The trade was a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now directly owns 2,500 shares of the company’s stock, valued at $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its stake in Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after acquiring an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares during the period. CWM LLC increased its stake in Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in Daktronics during the 3rd quarter worth approximately $75,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Daktronics in the first quarter valued at approximately $109,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.