BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Significant Growth in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,800 shares, an increase of 93.3% from the February 28th total of 3,000 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of BK Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in BK Technologies by 3,882.6% during the 4th quarter. Bank of America Corp DE now owns 916 shares of the company's stock valued at $31,000 after purchasing an additional 893 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of BK Technologies by 2,988.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,544 shares of the company's stock valued at $52,000 after acquiring an additional 1,494 shares in the last quarter. Barclays PLC purchased a new position in BK Technologies in the 4th quarter worth approximately $60,000. IFP Advisors Inc bought a new position in BK Technologies in the 4th quarter valued at approximately $99,000. Finally, JPMorgan Chase & Co. boosted its stake in BK Technologies by 64,342.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,511 shares of the company's stock valued at $98,000 after purchasing an additional 4,504 shares during the last quarter. Hedge funds and other institutional investors own 55.05% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on shares of BK Technologies in a report on Friday, February 14th. They issued a "buy" rating and a $40.00 target price on the stock.

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BK Technologies Price Performance

Shares of NYSEAMERICAN:BKTI traded up $3.22 during midday trading on Monday, reaching $39.22. The company's stock had a trading volume of 184,805 shares, compared to its average volume of 33,326. The company has a market capitalization of $139.62 million, a PE ratio of 28.63 and a beta of 1.22. BK Technologies has a 12-month low of $11.67 and a 12-month high of $43.35.

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).