Nortech Systems Incorporated (NASDAQ:NSYS) Short Interest Down 53.6% in August

Nortech Systems Incorporated (NASDAQ:NSYS) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 3,745 shares, a decline of 53.6% from the August 15th total of 8,076 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 13,909 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Nortech Systems

A hedge fund recently bought a new position in Nortech Systems stock. BlackRock Inc. purchased a new position in shares of Nortech Systems Incorporated (NASDAQ:NSYS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,456 shares of the electronics maker’s stock, valued at approximately $70,000. BlackRock Inc. owned about 0.16% of Nortech Systems as of its most recent SEC filing. Hedge funds and other institutional investors own 3.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NSYS. Weiss Ratings upgraded Nortech Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Wall Street Zen lowered Nortech Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Nortech Systems Trading Up 3.3%

Shares of NSYS stock traded up $0.37 on Tuesday, reaching $11.55. The company had a trading volume of 68,953 shares, compared to its average volume of 14,472. The stock has a market cap of $32.92 million, a PE ratio of 32.08 and a beta of -0.06. The company has a 50-day moving average of $13.08 and a 200-day moving average of $13.28. The company has a current ratio of 1.78, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. Nortech Systems has a 12 month low of $6.50 and a 12 month high of $18.01.

Nortech Systems (NASDAQ:NSYS) last announced its quarterly earnings results on Wednesday, August 12th. The electronics maker reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $33.54 million during the quarter. Nortech Systems had a net margin of 0.83% and a return on equity of 3.01%.

About Nortech Systems

Nortech Systems, Inc is a specialized engineering and manufacturing company that designs, develops and produces custom gas distribution and control solutions. Its core offerings include cryogenic valves and regulators, gas distribution panels and manifolds, and precision instrumentation for monitoring and controlling the delivery of industrial, specialty and medical gases. The company leverages in-house engineering, machining and assembly capabilities to tailor products to the exact specifications of its customers.

In addition to its mechanical product lines, Nortech Systems provides electronic monitoring and control systems.