Daktronics, Inc. (NASDAQ:DAKT) Short Interest Down 7.9% in November

Daktronics, Inc. (NASDAQ:DAKT) saw a significant decline in short interest in the month of 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. Based on an average daily volume of 480,800 shares, the short-interest ratio is presently 3.6 days. Currently, 4.2% of the shares of the company are sold short.

Daktronics Stock Performance

Daktronics stock opened at $17.65 on Wednesday. The firm’s 50 day simple moving average is $14.98 and its 200 day simple moving average is $13.88. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $829.30 million, a PE ratio of 70.60, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. Daktronics has a 1-year low of $7.20 and a 1-year high of $19.89.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DAKT shares. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Singular Research raised shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at $1,101,398.94. The trade was a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,692 shares of company stock valued at $718,435 over the last quarter. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently bought and sold shares of DAKT. Franklin Resources Inc. grew its stake in Daktronics by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock worth $959,000 after buying an additional 654 shares in the last quarter. Barclays PLC grew its stake in Daktronics by 348.2% in the 3rd quarter. Barclays PLC now owns 58,388 shares of the technology company’s stock worth $754,000 after buying an additional 45,360 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in Daktronics in the 3rd quarter worth approximately $75,000. Virtus Investment Advisers Inc. purchased a new position in Daktronics in the 3rd quarter worth approximately $388,000. Finally, Quarry LP grew its stake 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. 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.