Short Interest in Nortech Systems Incorporated (NASDAQ:NSYS) Decreases By 56.9%

Nortech Systems Incorporated (NASDAQ:NSYS) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,800 shares, a decrease of 56.9% from the December 15th total of 6,500 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 6,000 shares, the short-interest ratio is presently 0.5 days.

Nortech Systems Stock Up 1.2 %

NASDAQ NSYS opened at $10.10 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.63. The firm has a market cap of $27.85 million, a PE ratio of 6.52 and a beta of 0.47. The stock’s 50 day simple moving average is $10.73 and its 200 day simple moving average is $11.98. Nortech Systems has a one year low of $9.13 and a one year high of $19.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Nortech Systems in a research note on Wednesday, January 8th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Nortech Systems

A hedge fund recently raised its stake in Nortech Systems stock. Renaissance Technologies LLC boosted its position in Nortech Systems Incorporated (NASDAQ:NSYS) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,799 shares of the electronics maker’s stock after purchasing an additional 3,540 shares during the quarter. Renaissance Technologies LLC owned about 1.95% of Nortech Systems worth $734,000 at the end of the most recent reporting period. 3.05% of the stock is currently owned by hedge funds and other institutional investors.

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.