Data I/O Corporation (NASDAQ:DAIO) Sees Significant Decline in Short Interest

Data I/O Corporation (NASDAQ:DAIO) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 7,033 shares, a decline of 55.1% from the September 30th total of 15,678 shares. Based on an average daily volume of 23,986 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Data I/O in a research note on Thursday, October 15th. LADENBURG THALM/SH SH upgraded Data I/O to a “strong-buy” rating in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.11.

Data I/O Stock Performance

NASDAQ:DAIO traded down $0.06 during trading on Friday, reaching $2.36. The company’s stock had a trading volume of 12,949 shares, compared to its average volume of 45,473. The firm has a 50 day moving average of $2.79 and a 200-day moving average of $3.00. Data I/O has a 12 month low of $2.16 and a 12 month high of $4.49. The firm has a market cap of $24.54 million, a price-to-earnings ratio of -2.54 and a beta of 1.43.

Data I/O (NASDAQ:DAIO) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The business had revenue of $5.15 million during the quarter. Data I/O had a negative return on equity of 66.83% and a negative net margin of 48.73%. Equities research analysts forecast that Data I/O will post -0.30 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Red Oak Partners, Llc bought 373,133 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were purchased at an average price of $2.68 per share, for a total transaction of $999,996.44. Following the completion of the transaction, the insider directly owned 242,934 shares in the company, valued at approximately $651,063.12. This represents a -286.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Data I/O

A hedge fund recently raised its position in Data I/O stock. Susquehanna International Group LLP increased its position in shares of Data I/O Corporation (NASDAQ:DAIO) by 80.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,548 shares of the electronics maker’s stock after buying an additional 21,711 shares during the period. Susquehanna International Group LLP owned about 0.52% of Data I/O worth $191,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.95% of the company’s stock.

About Data I/O

Data I/O Corporation (NASDAQ:DAIO) develops and supplies automated programming and security-provisioning systems for electronic devices. Its equipment is used to load software, firmware and other data into semiconductor devices such as flash memory, microcontrollers and programmable logic devices during electronics manufacturing.

The company’s product portfolio includes automated device-programming systems, programming engines, software and related accessories. Its offerings are designed to support high-volume production, improve programming accuracy and help manufacturers manage device security, including the provisioning of keys and other credentials used in connected and embedded products.

Data I/O serves manufacturers and contract manufacturers in industries including automotive electronics, consumer electronics, industrial equipment, telecommunications and other embedded-technology markets.