Daktronics (NASDAQ:DAKT) Shares Pass Above 200-Day Moving Average - Here's What Happened

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) crossed 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on DAKT. Singular Research raised shares of Daktronics to a "strong-buy" rating in a report on Monday, September 9th. StockNews.com upgraded Daktronics from a "hold" rating to a "buy" rating in a research report on Monday, October 14th.

Daktronics Stock Performance

The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The company's 50-day moving average is $13.16 and its two-hundred day moving average is $12.94. The company has a market capitalization of $683.52 million, a P/E ratio of 184.38, a PEG ratio of 0.55 and a beta of 1.14.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $216.84 million. Equities analysts anticipate that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company's stock, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm's 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 sale, the vice president now directly owns 2,500 shares of the company's stock, valued at $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 valued at $32,000 after acquiring an additional 1,108 shares in the last quarter. CWM LLC increased its holdings in shares of Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company's stock valued at $51,000 after acquiring an additional 872 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Daktronics by 150.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company's stock valued at $56,000 after acquiring an additional 2,400 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Daktronics during the first quarter valued at $105,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Daktronics during the first quarter valued at $109,000. Hedge funds and other institutional investors 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.