Data I/O Co. (NASDAQ:DAIO) Sees Significant Growth in Short Interest

Data I/O Co. (NASDAQ:DAIO) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 29,700 shares, an increase of 60.5% from the September 15th total of 18,500 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 19,400 shares, the days-to-cover ratio is currently 1.5 days.

Data I/O Stock Down 1.9 %

Shares of NASDAQ DAIO traded down $0.05 during mid-day trading on Monday, hitting $2.53. 23,248 shares of the company were exchanged, compared to its average volume of 21,763. The firm has a market cap of $22.83 million, a price-to-earnings ratio of -50.60 and a beta of 0.96. The stock has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.82. Data I/O has a 1-year low of $2.29 and a 1-year high of $3.99.

Data I/O (NASDAQ:DAIO) last posted its quarterly earnings results on Thursday, July 25th. The electronics maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Data I/O had a negative return on equity of 7.71% and a negative net margin of 6.15%. The company had revenue of $5.06 million for the quarter, compared to analyst estimates of $6.50 million. During the same period last year, the company earned $0.03 earnings per share.

Analyst Upgrades and Downgrades

Separately, Westpark Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of Data I/O in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On Data I/O

Institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new position in shares of Data I/O in the 1st quarter valued at $56,000. Perkins Coie Trust Co purchased a new stake in shares of Data I/O during the second quarter valued at approximately $56,000. Finally, Essex Investment Management Co. LLC lifted its holdings in Data I/O by 28.2% in the 1st quarter. Essex Investment Management Co. LLC now owns 81,990 shares of the electronics maker’s stock worth $289,000 after buying an additional 18,053 shares in the last quarter. Institutional investors and hedge funds own 36.95% of the company’s stock.

About Data I/O

Data I/O Corporation, together with its subsidiaries, engages in the design, manufacture, and sale of programming and security deployment systems and services for electronic device manufacturers in the United States, Europe, and internationally. Its programming system products are used to program integrated circuits (ICs) with the specific data for the ICs.