Duos Technologies Group, Inc. (NASDAQ:DUOT) Sees Large Increase in Short Interest

Duos Technologies Group, Inc. (NASDAQ:DUOT) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 151,000 shares, an increase of 11.1% from the May 15th total of 135,900 shares. Based on an average daily volume of 36,000 shares, the days-to-cover ratio is currently 4.2 days.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets dropped their target price on shares of Duos Technologies Group from $6.00 to $5.75 and set a “buy” rating on the stock in a research report on Friday, June 7th.

Duos Technologies Group Price Performance

Shares of DUOT opened at $2.81 on Wednesday. The stock has a 50-day moving average of $2.79 and a 200-day moving average of $3.33. The company has a market cap of $21.16 million, a PE ratio of -1.70 and a beta of 1.15. Duos Technologies Group has a one year low of $1.93 and a one year high of $7.20.

Duos Technologies Group (NASDAQ:DUOT) last issued its earnings results on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.05. The company had revenue of $1.07 million for the quarter, compared to analysts’ expectations of $1.25 million. Duos Technologies Group had a negative return on equity of 237.64% and a negative net margin of 200.92%. Analysts expect that Duos Technologies Group will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DUOT. Tucker Asset Management LLC grew its holdings in Duos Technologies Group by 10,829.0% during the third quarter. Tucker Asset Management LLC now owns 10,929 shares of the company’s stock worth $56,000 after buying an additional 10,829 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Duos Technologies Group during the first quarter valued at about $51,000. Diversified Investment Strategies LLC boosted its holdings in Duos Technologies Group by 25.0% during the first quarter. Diversified Investment Strategies LLC now owns 75,000 shares of the company’s stock worth $326,000 after purchasing an additional 15,000 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in Duos Technologies Group in the 1st quarter worth about $85,000. Finally, Spire Wealth Management purchased a new stake in Duos Technologies Group in the 4th quarter valued at about $100,000. 42.61% of the stock is currently owned by institutional investors and hedge funds.

Duos Technologies Group Company Profile

Duos Technologies Group, Inc designs, develops, deploys, and operates intelligent technology solutions in North America. The company provides solutions, such as Centraco, an enterprise information management software platform that consolidates data and events from multiple sources into a unified and distributive user interface; and truevue360, an integrated platform to develop and deploy artificial intelligence algorithms, including machine learning, computer vision, object detection, and deep neural network-based processing for real-time applications.