Daktronics, Inc. (NASDAQ:DAKT) Sees Large Increase in Short Interest

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAKT. Duquesne Family Office LLC raised its holdings in shares of Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock worth $46,513,000 after buying an additional 8,599 shares during the period. Progeny 3 Inc. grew its position in Daktronics by 3.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock valued at $57,455,000 after acquiring an additional 96,371 shares during the last quarter. American Century Companies Inc. increased its stake in Daktronics by 2.8% in the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock worth $34,825,000 after purchasing an additional 44,731 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Daktronics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,352,441 shares of the technology company’s stock worth $20,449,000 after purchasing an additional 7,999 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Daktronics by 5.2% during the second quarter. Geode Capital Management LLC now owns 1,100,635 shares of the technology company’s stock worth $16,644,000 after purchasing an additional 54,323 shares during the last quarter. Institutional investors own 61.69% of the company’s stock.

Analyst Upgrades and Downgrades

DAKT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research note on Monday, December 29th. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

Daktronics Trading Down 1.0%

DAKT stock traded down $0.22 during mid-day trading on Monday, reaching $21.69. 292,931 shares of the stock traded hands, compared to its average volume of 440,294. Daktronics has a one year low of $10.24 and a one year high of $24.38. The stock has a market capitalization of $1.06 billion, a PE ratio of 166.86, a PEG ratio of 0.63 and a beta of 1.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. The business has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $18.75.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $229.25 million during 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 last year, the business earned $0.27 EPS. Equities research analysts expect that Daktronics will post 0.96 EPS for the current year.

Daktronics Company Profile

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.