Daktronics (NASDAQ:DAKT) Stock Price Up 5.3% - What's Next?

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) was up 5.3% on Thursday . The stock traded as high as $12.65 and last traded at $12.84. Approximately 61,789 shares were traded during trading, a decline of 87% from the average daily volume of 462,582 shares. The stock had previously closed at $12.20.

Analyst Upgrades and Downgrades

Separately, Craig Hallum started 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 Price Performance

The company has a market capitalization of $596.22 million, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $16.01 and a 200 day simple moving average of $15.03.

Insiders Place Their Bets

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

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Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in Daktronics by 75.6% in the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company's stock worth $30,000 after buying an additional 989 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Daktronics by 29.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock worth $71,000 after buying an additional 965 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in Daktronics in the 3rd quarter worth $75,000. KLP Kapitalforvaltning AS acquired a new position in Daktronics in the 4th quarter worth $125,000. Finally, Knott David M Jr acquired a new position in Daktronics in the 4th quarter worth $132,000. 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.