Daktronics, Inc. (NASDAQ:DAKT) Sees Large Decline in Short Interest

Daktronics, Inc. (NASDAQ:DAKT) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,840,000 shares, a decline of 8.1% from the August 31st total of 3,090,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily trading volume, of 616,500 shares, the short-interest ratio is presently 4.6 days.

Insiders Place Their Bets

In related news, EVP Bradley T. Wiemann sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares in the company, valued at approximately $1,803,115.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Daktronics news, VP Matthew John Kurtenbach sold 9,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $14.94, for a total value of $134,460.00. Following the completion of the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at $3,121,055.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley T. Wiemann sold 7,500 shares of Daktronics stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $13.60, for a total value of $102,000.00. Following the completion of the sale, the executive vice president now directly owns 132,582 shares in the company, valued at approximately $1,803,115.20. The disclosure for this sale can be found here. Insiders sold 32,954 shares of company stock valued at $472,570 over the last quarter. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DAKT. Breach Inlet Capital Management LLC bought a new position in shares of Daktronics during the fourth quarter valued at approximately $11,508,000. Progeny 3 Inc. lifted its position in shares of Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Daktronics in the 1st quarter worth $7,482,000. Intrinsic Edge Capital Management LLC purchased a new position in Daktronics in the 4th quarter worth approximately $4,240,000. Finally, Duquesne Family Office LLC increased its holdings in shares of Daktronics by 20.3% in the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the last quarter. Institutional investors own 61.69% of the company’s stock.

Daktronics Stock Up 2.3 %

Shares of NASDAQ:DAKT traded up $0.30 during midday trading on Tuesday, hitting $13.21. 325,334 shares of the company’s stock were exchanged, compared to its average volume of 520,571. Daktronics has a 12 month low of $7.20 and a 12 month high of $15.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The stock has a 50 day moving average price of $13.79 and a 200-day moving average price of $12.06. The company has a market cap of $611.57 million, a PE ratio of 21.16, a price-to-earnings-growth ratio of 0.44 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The business had revenue of $226.09 million for the quarter, compared to analyst estimates of $216.84 million. On average, sell-side analysts anticipate that Daktronics will post 0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DAKT shares. StockNews.com lowered Daktronics from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

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.