Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Expands By 6.3%

Daktronics, Inc. (NASDAQ:DAKT) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,850,000 shares, an increase of 6.3% from the September 30th total of 2,680,000 shares. Approximately 6.9% of the company’s shares are sold short. Based on an average daily trading volume, of 473,700 shares, the short-interest ratio is presently 6.0 days.

Insiders Place Their Bets

In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the executive vice president now directly owns 85,446 shares in the company, valued at approximately $1,101,398.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the transaction, the vice president now directly owns 2,500 shares of the company’s stock, valued at approximately $33,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Progeny 3 Inc. increased its stake in shares of Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after purchasing an additional 1,047,156 shares during the period. Duquesne Family Office LLC grew its holdings in Daktronics by 20.3% in the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after buying an additional 420,161 shares during the last quarter. American Century Companies Inc. increased its position in Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after buying an additional 187,486 shares during the period. Empowered Funds LLC lifted its holdings in shares of Daktronics by 115.1% during the first quarter. Empowered Funds LLC now owns 199,066 shares of the technology company’s stock worth $1,983,000 after buying an additional 106,538 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new stake in shares of Daktronics in the second quarter valued at approximately $1,338,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Stock Down 0.3 %

Shares of DAKT traded down $0.04 during mid-day trading on Friday, hitting $12.99. 332,819 shares of the company’s stock were exchanged, compared to its average volume of 503,246. The stock has a market cap of $601.96 million, a price-to-earnings ratio of 162.25, a P/E/G ratio of 0.49 and a beta of 1.14. The firm has a fifty day moving average of $13.15 and a two-hundred day moving average of $12.59. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. Daktronics has a twelve month low of $7.20 and a twelve month high of $15.97.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The company 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, sell-side analysts forecast that Daktronics will post 0.89 earnings per share for the current year.

Analysts Set New Price Targets

DAKT has been the subject of several recent research reports. Singular Research upgraded Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.