Daktronics (NASDAQ:DAKT) Trading Down 3.3%

Daktronics, Inc. (NASDAQ:DAKT) shares dropped 3.3% during trading on Tuesday . The company traded as low as $13.28 and last traded at $13.31. Approximately 113,335 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 509,459 shares. The stock had previously closed at $13.77.

Daktronics Stock Up 2.3 %

The company has a current ratio of 2.09, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $9.54. The company has a market capitalization of $622.74 million, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 0.39 and a beta of 1.12.

Insiders Place Their Bets

In other news, CEO Reece A. Kurtenbach sold 15,000 shares of Daktronics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.87, for a total transaction of $208,050.00. Following the completion of the transaction, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently modified their holdings of DAKT. New York State Teachers Retirement System acquired a new stake in Daktronics during the first quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its position in shares of Daktronics by 831.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,376 shares of the technology company’s stock worth $71,000 after purchasing an additional 7,477 shares during the period. Clear Street Markets LLC acquired a new position in Daktronics in the fourth quarter valued at about $101,000. Janney Montgomery Scott LLC bought a new stake in Daktronics during the first quarter worth about $105,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Daktronics in the 1st quarter valued at about $109,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

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.