Daktronics, Inc. (NASDAQ:DAKT) Short Interest Up 36.0% in December

Daktronics, Inc. (NASDAQ:DAKT) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,473,252 shares, an increase of 36.0% from the December 15th total of 1,083,137 shares. Based on an average daily volume of 596,811 shares, the short-interest ratio is presently 2.5 days. Approximately 3.2% of the company’s stock are short sold. Approximately 3.2% of the company’s stock are short sold. Based on an average daily volume of 596,811 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DAKT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research report on Monday, December 29th. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Daktronics presently has an average rating of “Hold” and a consensus target price of $26.00.

Daktronics Stock Performance

NASDAQ DAKT opened at $21.69 on Friday. The company’s fifty day moving average is $19.22 and its two-hundred day moving average is $18.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71. Daktronics has a 52-week low of $10.24 and a 52-week high of $24.38. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 166.86, a P/E/G ratio of 0.64 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $229.25 million for the quarter, compared to analyst estimates of $213.93 million. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities research analysts forecast that Daktronics will post 0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DAKT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Daktronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock worth $295,000 after acquiring an additional 1,476 shares during the period. Empowered Funds LLC boosted its holdings in shares of Daktronics by 2.1% in the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock valued at $2,954,000 after purchasing an additional 4,926 shares in the last quarter. Strs Ohio acquired a new position in Daktronics during the first quarter worth about $526,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Daktronics by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 76,599 shares of the technology company’s stock worth $1,158,000 after buying an additional 2,360 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in Daktronics in the second quarter valued at about $79,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

About Daktronics

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.