Daktronics, Inc. (NASDAQ:DAKT) Short Interest Down 7.9% in November

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,740,000 shares, a decline of 7.9% from the November 15th total of 1,890,000 shares. Based on an average daily trading volume, of 480,800 shares, the days-to-cover ratio is currently 3.6 days. Currently, 4.2% of the shares of the stock are sold short.

Insider Activity at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. The trade was a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,692 shares of company stock valued at $718,435 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Daktronics

Several institutional investors and hedge funds have recently modified their holdings of DAKT. Quarry LP boosted its holdings in shares of Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after buying an additional 989 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares during the period. CWM LLC boosted its stake in Daktronics by 31.4% in the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares during the period. Virtus Fund Advisers LLC bought a new position in Daktronics during the 3rd quarter worth about $75,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Daktronics in the 1st quarter valued at about $109,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAKT. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Daktronics Trading Up 3.2 %

Shares of NASDAQ DAKT opened at $17.62 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Daktronics has a twelve month low of $7.20 and a twelve month high of $19.89. The company’s fifty day moving average is $14.81 and its 200-day moving average is $13.79. The stock has a market cap of $827.89 million, a price-to-earnings ratio of 70.48, a P/E/G ratio of 0.72 and a beta of 1.19.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.