Short Interest in Nortech Systems Incorporated (NASDAQ:NSYS) Declines By 16.9%

Nortech Systems Incorporated (NASDAQ:NSYS) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 6,400 shares, a decline of 16.9% from the August 31st total of 7,700 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 8,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Nortech Systems

An institutional investor recently bought a new position in Nortech Systems stock. Dimensional Fund Advisors LP acquired a new position in Nortech Systems Incorporated (NASDAQ:NSYS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,868 shares of the electronics maker’s stock, valued at approximately $148,000. Dimensional Fund Advisors LP owned about 0.39% of Nortech Systems at the end of the most recent reporting period. 3.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Nortech Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Nortech Systems Stock Performance

NASDAQ NSYS opened at $12.05 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.54 and a debt-to-equity ratio of 0.24. Nortech Systems has a twelve month low of $7.45 and a twelve month high of $19.15. The business has a 50-day moving average price of $12.64 and a 200-day moving average price of $13.35. The firm has a market cap of $33.22 million, a price-to-earnings ratio of 5.00 and a beta of 0.53.

Nortech Systems (NASDAQ:NSYS) last posted its quarterly earnings results on Thursday, August 8th. The electronics maker reported $0.05 earnings per share for the quarter. The business had revenue of $33.89 million during the quarter. Nortech Systems had a return on equity of 18.90% and a net margin of 4.71%.

Nortech Systems Company Profile

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.