Daktronics, Inc. (NASDAQ:DAKT) Short Interest Update

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,390,000 shares, an increase of 7.8% from the December 31st total of 1,290,000 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 478,800 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research report on Monday, October 14th. Craig Hallum initiated coverage on Daktronics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $26.00 price target on the stock.

Daktronics Price Performance

DAKT stock traded down $0.48 during midday trading on Friday, reaching $15.93. The company had a trading volume of 187,036 shares, compared to its average volume of 329,351. The company has a market capitalization of $750.33 million, a price-to-earnings ratio of 63.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics has a 1-year low of $7.32 and a 1-year high of $19.89. The stock has a 50 day moving average price of $17.02 and a 200-day moving average price of $14.94.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. Equities research analysts expect that Daktronics will post 0.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Reece A. Kurtenbach sold 8,048 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at $8,807,381.25. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Patrick Friel sold 2,244 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the transaction, the director now owns 87,573 shares in the company, valued at $1,591,201.41. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Daktronics

Large investors have recently modified their holdings of the business. Quarry LP grew its position in Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company's stock valued at $30,000 after acquiring an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $32,000 after buying an additional 1,108 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in Daktronics during the 3rd quarter worth $75,000. Retirement Solution LLC acquired a new position in Daktronics in the 4th quarter worth about $169,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Daktronics during the fourth quarter valued at about $170,000. Institutional investors and hedge funds own 61.69% of the company's stock.

About Daktronics

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.