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

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,740,000 shares, a decline of 7.9% from the November 15th total of 1,890,000 shares. Currently, 4.2% of the company's stock are sold short. Based on an average daily trading volume, of 480,800 shares, the days-to-cover ratio is presently 3.6 days.

Daktronics Stock Performance

Shares of NASDAQ DAKT traded down $0.40 during trading hours on Monday, hitting $17.22. 421,981 shares of the company's stock were exchanged, compared to its average volume of 509,069. The stock has a market capitalization of $809.10 million, a price-to-earnings ratio of 70.48, a PEG ratio of 0.72 and a beta of 1.19. The company's 50-day moving average price is $14.81 and its 200-day moving average price is $13.79. 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 $7.20 and a 1-year high of $19.89.

Insider Activity

In related 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 value of $322,250.00. Following the transaction, the executive vice president now owns 85,446 shares in the company, 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 filing with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the transaction, the vice president now owns 2,500 shares in the company, valued at $33,200. This represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,692 shares of company stock worth $718,435. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in Daktronics by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock valued at $959,000 after purchasing an additional 654 shares during the period. Barclays PLC raised its position in shares of Daktronics by 348.2% during the third quarter. Barclays PLC now owns 58,388 shares of the technology company's stock valued at $754,000 after buying an additional 45,360 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Daktronics in the third quarter valued at about $75,000. Virtus Investment Advisers Inc. acquired a new stake in Daktronics during the third quarter worth about $388,000. Finally, Quarry LP grew 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 buying an additional 989 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company's stock.

Analyst Ratings Changes

DAKT has been the topic of a number of recent analyst reports. Singular Research raised Daktronics to a "strong-buy" rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research note on Monday, October 14th.

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.