Daktronics (NASDAQ:DAKT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Daktronics, Inc. (NASDAQ:DAKT) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.93 and traded as high as $15.40. Daktronics shares last traded at $14.80, with a volume of 1,229,825 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DAKT shares. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th.

Daktronics Price Performance

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 company has a 50 day moving average price of $13.10 and a 200 day moving average price of $12.93. The firm has a market cap of $685.83 million, a PE ratio of 185.00, a PEG ratio of 0.55 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results 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 return on equity of 19.92% and a net margin of 1.29%. The business had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. Sell-side analysts expect that Daktronics, Inc. will post 0.89 EPS for the current fiscal year.

Insider Transactions at Daktronics

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Daktronics by 92.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares during the last quarter. CWM LLC raised its holdings in shares of Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after buying an additional 872 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after buying an additional 2,400 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Daktronics during the 1st quarter valued at approximately $105,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Daktronics during the 1st quarter valued at approximately $109,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Company Profile

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.