Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Decreases By 8.1%

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large decrease in short interest in 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. Based on an average daily trading volume, of 616,500 shares, the days-to-cover ratio is presently 4.6 days. Currently, 6.9% of the company’s stock are sold short.

Daktronics Trading Up 2.5 %

Shares of NASDAQ DAKT traded up $0.32 during trading on Tuesday, reaching $13.23. The stock had a trading volume of 379,360 shares, compared to its average volume of 520,857. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The company has a market cap of $612.50 million, a P/E ratio of 21.66, a PEG ratio of 0.44 and a beta of 1.14. The business’s 50-day moving average price is $13.79 and its 200-day moving average price is $12.06. Daktronics has a fifty-two week low of $7.20 and a fifty-two week high of $15.97.

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

Insider Transactions at Daktronics

In other Daktronics news, VP Matthew John Kurtenbach sold 2,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the sale, the vice president now directly owns 208,906 shares in the company, valued at $3,125,233.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Bradley T. Wiemann sold 1,839 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $14.66, for a total transaction of $26,959.74. Following the sale, the executive vice president now directly owns 108,743 shares of the company’s stock, valued at approximately $1,594,172.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the sale, the vice president now directly owns 208,906 shares in the company, valued at $3,125,233.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,954 shares of company stock valued at $472,570. 8.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of DAKT. Precision Wealth Strategies LLC purchased a new stake in Daktronics in the fourth quarter valued at approximately $184,000. Dimensional Fund Advisors LP increased its position in Daktronics by 14.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock valued at $20,788,000 after acquiring an additional 305,597 shares during the period. Gabelli Funds LLC raised its holdings in Daktronics by 7.2% during the fourth quarter. Gabelli Funds LLC now owns 69,700 shares of the technology company’s stock worth $591,000 after purchasing an additional 4,700 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Daktronics in the fourth quarter valued at about $4,240,000. Finally, Breach Inlet Capital Management LLC purchased a new stake in Daktronics in the 4th quarter valued at approximately $11,508,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.