Daktronics, Inc. (NASDAQ:DAKT) Short Interest Down 8.1% in September

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,840,000 shares, a decrease of 8.1% from the August 31st total of 3,090,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily trading volume, of 616,500 shares, the days-to-cover ratio is presently 4.6 days.

Daktronics Trading Up 2.3 %

Daktronics stock traded up $0.30 during trading on Tuesday, reaching $13.21. 325,334 shares of the company were exchanged, compared to its average volume of 520,571. Daktronics has a 52-week low of $7.20 and a 52-week high of $15.97. The company has a market capitalization of $611.57 million, a P/E ratio of 21.16, a PEG ratio of 0.44 and a beta of 1.14. The stock’s 50 day simple moving average is $13.79 and its two-hundred day simple moving average is $12.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The company had revenue of $226.09 million for the quarter, compared to analysts’ expectations of $216.84 million. On average, equities research analysts expect that Daktronics will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Daktronics news, EVP Bradley T. Wiemann sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $13.60, for a total transaction of $102,000.00. Following the transaction, the executive vice president now owns 132,582 shares of the company’s stock, valued at approximately $1,803,115.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Bradley T. Wiemann sold 1,839 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $14.66, for a total value of $26,959.74. Following the completion of the sale, the executive vice president now owns 108,743 shares of the company’s stock, valued at approximately $1,594,172.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley T. Wiemann sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the sale, the executive vice president now directly owns 132,582 shares in the company, valued at approximately $1,803,115.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,954 shares of company stock worth $472,570. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Daktronics by 92.3% during the second 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. Hexagon Capital Partners LLC boosted its holdings in Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,400 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in Daktronics by 1.9% during the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after buying an additional 2,778 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Daktronics during the first quarter valued at approximately $34,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DAKT shares. StockNews.com lowered shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research report on Monday, September 9th.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.