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

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,390,000 shares, a growth of 7.8% from the December 15th total of 1,290,000 shares. Based on an average trading volume of 478,800 shares, the days-to-cover ratio is currently 2.9 days. Currently, 3.3% of the company’s stock are short sold.

Insider Activity at Daktronics

In related news, Director John Patrick Friel sold 2,244 shares of Daktronics 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $150,900.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Institutional Trading of Daktronics

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after purchasing an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in shares of Daktronics during the 3rd quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Daktronics during the 3rd quarter valued at approximately $164,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Daktronics during the 4th quarter valued at approximately $170,000. Institutional investors own 61.69% of the company’s stock.

Daktronics Price Performance

NASDAQ:DAKT traded up $0.14 during trading hours on Monday, reaching $16.64. The stock had a trading volume of 220,628 shares, compared to its average volume of 418,439. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics has a 52 week low of $7.20 and a 52 week high of $19.89. The company has a 50 day moving average price of $16.49 and a two-hundred day moving average price of $14.68. The stock has a market capitalization of $781.91 million, a PE ratio of 66.56, a PEG ratio of 0.56 and a beta of 1.17.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report 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.