Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Decreases By 5.6%

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,680,000 shares, a drop of 5.6% from the September 15th total of 2,840,000 shares. Based on an average daily volume of 524,100 shares, the short-interest ratio is presently 5.1 days. Currently, 6.5% of the shares of the company are short sold.

Daktronics Trading Up 0.7 %

DAKT opened at $13.71 on Friday. Daktronics has a twelve month low of $7.20 and a twelve month high of $15.97. The company has a fifty day moving average of $13.50 and a 200-day moving average of $12.36. The stock has a market cap of $634.72 million, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.47 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48.

Daktronics (NASDAQ:DAKT) last issued its quarterly 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. The firm had revenue of $226.09 million during the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. On average, sell-side analysts predict that Daktronics will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DAKT shares. Singular Research upgraded 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 report on Monday.

Insider Buying and Selling

In other Daktronics news, VP Matthew John Kurtenbach sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total value of $29,920.00. Following the sale, the vice president now owns 208,906 shares of the company’s stock, valued at approximately $3,125,233.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Bradley T. Wiemann sold 25,000 shares of the company’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 directly owns 85,446 shares in the company, valued at $1,101,398.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew John Kurtenbach sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total transaction of $29,920.00. Following the completion of the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,125,233.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,872 shares of company stock valued at $608,838. Insiders own 8.30% of the company’s stock.

Institutional Trading of Daktronics

Several hedge funds have recently modified their holdings of DAKT. Northwestern Mutual Wealth Management Co. boosted its stake in Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,108 shares in the last quarter. CWM LLC increased its position in Daktronics by 31.4% in the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after buying an additional 872 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after buying an additional 2,400 shares during the period. Janney Montgomery Scott LLC bought a new position in Daktronics in the first quarter worth approximately $105,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Daktronics in the first quarter valued at approximately $109,000. Institutional investors 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.