BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Large Increase in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI - Get Free Report) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 11,800 shares, a growth of 84.4% from the January 15th total of 6,400 shares. Based on an average daily volume of 30,800 shares, the short-interest ratio is currently 0.4 days. Currently, 0.4% of the company's stock are sold short.

BK Technologies Stock Performance

Shares of BKTI stock traded up $1.00 on Wednesday, hitting $34.50. 25,563 shares of the company's stock traded hands, compared to its average volume of 26,830. The firm has a market cap of $122.82 million, a P/E ratio of 25.18 and a beta of 1.22. BK Technologies has a one year low of $11.10 and a one year high of $38.70.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital started coverage on BK Technologies in a research report on Friday, February 14th. They issued a "buy" rating and a $40.00 target price for the company.

Insiders Place Their Bets

In related news, Director Charles T. Lanktree sold 992 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $35.00, for a total transaction of $34,720.00. Following the transaction, the director now directly owns 549 shares of the company's stock, valued at $19,215. This trade represents a 64.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.48% of the company's stock.

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Hedge Funds Weigh In On BK Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bard Associates Inc. grew its stake in shares of BK Technologies by 0.6% in the third quarter. Bard Associates Inc. now owns 143,448 shares of the company's stock worth $3,123,000 after purchasing an additional 871 shares during the last quarter. Bank of America Corp DE lifted its holdings in BK Technologies by 3,882.6% in the 4th quarter. Bank of America Corp DE now owns 916 shares of the company's stock worth $31,000 after buying an additional 893 shares during the period. JPMorgan Chase & Co. increased its stake in shares of BK Technologies by 30.6% during the fourth quarter. JPMorgan Chase & Co. now owns 5,891 shares of the company's stock valued at $202,000 after buying an additional 1,380 shares during the period. Lazard Asset Management LLC lifted its stake in BK Technologies by 2,988.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,544 shares of the company's stock worth $52,000 after acquiring an additional 1,494 shares during the period. Finally, Barclays PLC bought a new stake in BK Technologies in the fourth quarter valued at $60,000. 55.05% of the stock is currently owned by institutional investors.

BK Technologies Company Profile

BK Technologies Corporation, through its subsidiary, BK Technologies, Inc, engages in design, manufacture, and markets wireless communications products in the United States and internationally. The company offers two-way land mobile radios (LMR) that are hand-held (portable) or installed in vehicles (mobile).