Nortech Systems Incorporated (NASDAQ:NSYS) Sees Significant Drop in Short Interest

Nortech Systems Incorporated (NASDAQ:NSYS) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 3,745 shares, a decline of 53.6% from the August 15th total of 8,076 shares. Based on an average daily volume of 13,909 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Nortech Systems Price Performance

NASDAQ:NSYS traded down $0.04 during mid-day trading on Wednesday, reaching $11.51. 10,921 shares of the stock were exchanged, compared to its average volume of 19,511. Nortech Systems has a 1-year low of $6.50 and a 1-year high of $18.01. The company has a current ratio of 1.78, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $32.80 million, a PE ratio of 31.97 and a beta of -0.06. The business has a fifty day moving average price of $13.08 and a 200 day moving average price of $13.28.

Nortech Systems (NASDAQ:NSYS) last released its earnings results on Wednesday, August 12th. The electronics maker reported $0.11 EPS for the quarter. The business had revenue of $33.54 million for the quarter. Nortech Systems had a net margin of 0.83% and a return on equity of 3.01%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NSYS. Wall Street Zen downgraded shares of Nortech Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Nortech Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Nortech Systems has an average rating of “Hold”.

Institutional Investors Weigh In On Nortech Systems

An institutional investor recently bought a new stake in Nortech Systems stock. BlackRock Inc. bought a new stake in shares of Nortech Systems Incorporated (NASDAQ:NSYS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,456 shares of the electronics maker’s stock, valued at approximately $70,000. BlackRock Inc. owned about 0.16% of Nortech Systems as of its most recent SEC filing. Institutional investors own 3.05% of the company’s stock.

Nortech Systems Company Profile

Nortech Systems, Inc is a specialized engineering and manufacturing company that designs, develops and produces custom gas distribution and control solutions. Its core offerings include cryogenic valves and regulators, gas distribution panels and manifolds, and precision instrumentation for monitoring and controlling the delivery of industrial, specialty and medical gases. The company leverages in-house engineering, machining and assembly capabilities to tailor products to the exact specifications of its customers.

In addition to its mechanical product lines, Nortech Systems provides electronic monitoring and control systems.