Data I/O (NASDAQ:DAIO) Shares Cross Above 200-Day Moving Average – Here’s Why

Data I/O Corporation (NASDAQ:DAIO)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.91 and traded as high as $4.15. Data I/O shares last traded at $4.08, with a volume of 99,795 shares changing hands.

Analyst Upgrades and Downgrades

DAIO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Data I/O from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. LADENBURG THALM/SH SH upgraded shares of Data I/O to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Data I/O in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.11.

Data I/O Trading Down 1.9%

The firm has a market capitalization of $38.31 million, a P/E ratio of -4.86 and a beta of 1.27. The company’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $2.91.

Data I/O (NASDAQ:DAIO) last issued its quarterly earnings data on Friday, May 15th. The electronics maker reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.18). Data I/O had a negative return on equity of 54.33% and a negative net margin of 41.85%.The company had revenue of $3.25 million during the quarter, compared to the consensus estimate of $4.00 million. On average, analysts predict that Data I/O Corporation will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC bought a new position in Data I/O in the 4th quarter worth $37,000. NewEdge Advisors LLC grew its position in shares of Data I/O by 45.4% in the 2nd quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock worth $69,000 after buying an additional 7,000 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Data I/O by 24.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 43,472 shares of the electronics maker’s stock worth $138,000 after buying an additional 8,555 shares during the period. Kovack Advisors Inc. grew its position in shares of Data I/O by 2.2% in the 4th quarter. Kovack Advisors Inc. now owns 268,906 shares of the electronics maker’s stock worth $852,000 after buying an additional 5,675 shares during the period. Finally, Penbrook Management LLC grew its position in shares of Data I/O by 1.2% in the 4th quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock worth $1,131,000 after buying an additional 4,100 shares during the period. 36.95% of the stock is currently owned by institutional investors.

About Data I/O

Data I/O Corporation is a provider of device programming solutions for semiconductor and microcontroller manufacturers, test houses, contract manufacturers and electronics design engineers. The company’s product portfolio includes universal and site-specific programmers, automated programming systems and software tools that enable high-volume production, development and field programming of non-volatile memories and microcontrollers. Data I/O’s solutions are designed to support a wide range of programmable devices, including Flash, EPROM, EEPROM, PLDs, FPGAs and automotive-grade microcontrollers.

The company’s flagship technologies include its high-speed FlashCORE III programming engines and the SB-OS-A automated handling system, which together streamline production workflows by providing scalable, multi-site programming capabilities.