Daktronics, Inc. (NASDAQ:DAKT) Short Interest Update

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,473,252 shares, an increase of 36.0% from the December 15th total of 1,083,137 shares. Based on an average trading volume of 596,811 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.2% of the shares of the stock are short sold. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 596,811 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Daktronics in the third quarter worth approximately $25,000. State of Alaska Department of Revenue bought a new position in Daktronics in the 3rd quarter valued at $43,000. Northwestern Mutual Wealth Management Co. grew its position in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares during the last quarter. Quaker Wealth Management LLC increased its stake in Daktronics by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company’s stock worth $57,000 after purchasing an additional 7,600 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Daktronics by 66.8% during the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after purchasing an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Wall Street Analyst Weigh In

DAKT has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a research report on Monday, December 29th. Zacks Research downgraded shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Daktronics presently has an average rating of “Hold” and an average price target of $26.00.

Daktronics Trading Down 1.0%

NASDAQ:DAKT traded down $0.22 during midday trading on Friday, hitting $21.69. 292,931 shares of the company traded hands, compared to its average volume of 440,294. The firm has a market capitalization of $1.06 billion, a P/E ratio of 166.86, a P/E/G ratio of 0.63 and a beta of 1.72. The firm’s fifty day moving average is $19.22 and its 200-day moving average is $18.73. Daktronics has a 12-month low of $10.24 and a 12-month high of $24.38. The company has a current ratio of 2.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The business had revenue of $229.25 million for the quarter, compared to analysts’ expectations of $213.93 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that Daktronics will post 0.96 EPS for the current year.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.