Daktronics (NASDAQ:DAKT) Sees Strong Trading Volume

Shares of Daktronics, Inc. (NASDAQ:DAKT) saw an uptick in trading volume on Friday . 145,893 shares were traded during mid-day trading, a decline of 70% from the previous session’s volume of 492,337 shares.The stock last traded at $14.34 and had previously closed at $13.47.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Daktronics from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th.

Daktronics Trading Up 3.3 %

The stock’s 50 day moving average price is $10.91 and its 200-day moving average price is $9.38. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $642.96 million, a PE ratio of 23.51, a PEG ratio of 0.53 and a beta of 1.06.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $215.88 million during the quarter, compared to analysts’ expectations of $179.28 million. Daktronics had a net margin of 4.23% and a return on equity of 25.55%. On average, sell-side analysts expect that Daktronics, Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Daktronics

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Daktronics by 14.2% during the fourth 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 in the last quarter. Vanguard Group Inc. grew its stake in Daktronics by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after acquiring an additional 41,076 shares in the last quarter. Breach Inlet Capital Management LLC purchased a new position in Daktronics during the fourth quarter valued at $11,508,000. First Bank & Trust grew its stake in shares of Daktronics by 29.5% in the 1st quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock worth $9,932,000 after buying an additional 227,108 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Daktronics by 21.0% in the 3rd quarter. Invesco Ltd. now owns 761,239 shares of the technology company’s stock worth $6,790,000 after buying an additional 132,223 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

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.