Interlink Electronics, Inc. (NASDAQ:LINK) Sees Large Drop in Short Interest

Interlink Electronics, Inc. (NASDAQ:LINK) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 49,361 shares, a decrease of 61.5% from the May 14th total of 128,357 shares. Based on an average trading volume of 79,225 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Interlink Electronics

A number of large investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Interlink Electronics in the fourth quarter valued at approximately $40,000. IHT Wealth Management LLC boosted its position in Interlink Electronics by 65.7% in the fourth quarter. IHT Wealth Management LLC now owns 46,741 shares of the technology company’s stock valued at $181,000 after buying an additional 18,527 shares during the last quarter. Equitable Holdings Inc. purchased a new stake in Interlink Electronics in the fourth quarter valued at approximately $42,000. State Street Corp purchased a new stake in Interlink Electronics in the fourth quarter valued at approximately $49,000. Finally, Renaissance Technologies LLC boosted its position in Interlink Electronics by 162.0% in the fourth quarter. Renaissance Technologies LLC now owns 93,770 shares of the technology company’s stock valued at $364,000 after buying an additional 57,974 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Interlink Electronics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Interlink Electronics has a consensus rating of “Hold” and an average target price of $8.67.

Interlink Electronics Stock Performance

NASDAQ LINK traded down $0.08 during trading hours on Friday, reaching $4.39. The stock had a trading volume of 8,511 shares, compared to its average volume of 54,266. The stock has a fifty day moving average of $3.83 and a 200 day moving average of $3.62. The stock has a market cap of $69.14 million and a P/E ratio of -54.88. Interlink Electronics has a 52-week low of $2.66 and a 52-week high of $10.10.

Interlink Electronics (NASDAQ:LINK) last issued its earnings results on Thursday, May 14th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $3.07 million for the quarter, compared to analyst estimates of $3.30 million. Interlink Electronics had a negative return on equity of 13.62% and a negative net margin of 10.41%.

About Interlink Electronics

Interlink Electronics, Inc is a California-based company specializing in the design, development and manufacture of human interface technologies. The company’s core focus is on force-sensing and touch-sensitive solutions that enable intuitive control and feedback in electronic devices. Interlink holds proprietary intellectual property in the field of force-sensing resistors (FSRs) and related sensor technologies, giving it a distinct position in the market for tactile input components.

Interlink’s product portfolio includes thin-film force-sensing resistors, membrane keypads, touchpads and programmable touch-feedback modules.