Daktronics (NASDAQ:DAKT) Shares Cross Above 200-Day Moving Average - What's Next?

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.98 and traded as high as $16.22. Daktronics shares last traded at $16.09, with a volume of 267,239 shares trading hands.

Analysts Set New Price Targets

Separately, Craig Hallum initiated coverage on Daktronics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $26.00 target price on the stock.

Daktronics Stock Up 1.3 %

The company has a 50-day moving average of $16.85 and a 200-day moving average of $15.00. The company has a market capitalization of $756.75 million, a price-to-earnings ratio of 64.28, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.62% and a return on equity of 19.61%. On average, equities analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Reece A. Kurtenbach sold 8,048 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total transaction of $150,900.00. Following the sale, the chief executive officer now directly owns 469,727 shares of the company's stock, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the sale, the director now directly owns 87,573 shares in the company, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of DAKT. Quarry LP boosted its position in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company's stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Daktronics by 29.9% during the fourth quarter. Ameritas Investment Partners Inc. now owns 4,192 shares of the technology company's stock worth $71,000 after purchasing an additional 965 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in Daktronics during the third quarter worth approximately $75,000. KLP Kapitalforvaltning AS purchased a new position in Daktronics during the fourth quarter worth approximately $125,000. Finally, Knott David M Jr purchased a new position in Daktronics during the fourth quarter worth approximately $132,000. 61.69% of the stock is owned by institutional investors and hedge funds.

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.