Daktronics, Inc. (NASDAQ:DAKT) Short Interest Up 22.2% in March

Daktronics, Inc. (NASDAQ:DAKT) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 1,531,741 shares, a growth of 22.2% from the February 26th total of 1,253,531 shares. Based on an average daily volume of 801,704 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.3% of the company’s stock are sold short.

Daktronics Stock Up 1.7%

Shares of Daktronics stock traded up $0.33 during trading on Wednesday, hitting $19.88. 125,339 shares of the stock were exchanged, compared to its average volume of 558,966. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. The firm’s 50-day moving average price is $23.37 and its 200 day moving average price is $21.04. The stock has a market cap of $960.20 million, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 0.60 and a beta of 1.70. Daktronics has a 12-month low of $10.92 and a 12-month high of $28.27.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, March 4th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.09). The business had revenue of $181.87 million during the quarter, compared to analysts’ expectations of $181.00 million. Daktronics had a net margin of 3.43% and a return on equity of 16.55%. As a group, analysts forecast that Daktronics will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in the business. Duquesne Family Office LLC boosted its holdings in Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after purchasing an additional 8,599 shares in the last quarter. Progeny 3 Inc. lifted its position in shares of Daktronics by 3.6% during the 3rd quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock worth $57,455,000 after buying an additional 96,371 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Daktronics by 2.8% in the 3rd quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock valued at $34,825,000 after buying an additional 44,731 shares in the last quarter. Breach Inlet Capital Management LLC boosted its holdings in shares of Daktronics by 32.8% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after buying an additional 314,133 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Daktronics by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,100,635 shares of the technology company’s stock valued at $16,644,000 after buying an additional 54,323 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research cut Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.