Daktronics (NASDAQ:DAKT) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Daktronics, Inc. (NASDAQ:DAKT)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.60 and traded as high as $16.60. Daktronics shares last traded at $16.47, with a volume of 317,076 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Price 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 capitalization of $773.86 million, a PE ratio of 65.88, a P/E/G ratio of 0.68 and a beta of 1.17. The company’s 50-day simple moving average is $16.32 and its 200-day simple moving average is $14.60.

Insider Buying and Selling

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total value of $150,900.00. Following the transaction, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. This represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the completion of the sale, the director now directly owns 87,573 shares of the company’s stock, valued at $1,591,201.41. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several large investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. Virtus Fund Advisers LLC acquired a new position in Daktronics during the 3rd quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Daktronics during the third quarter valued at approximately $164,000. Finally, Atria Investments Inc acquired a new position in Daktronics in the third quarter worth $171,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

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.