Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Increases By 22.2%

Daktronics, Inc. (NASDAQ:DAKT) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,531,741 shares, a growth of 22.2% from the February 26th total of 1,253,531 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average daily volume of 801,704 shares, the short-interest ratio is currently 1.9 days.

Institutional Trading of Daktronics

Several large investors have recently modified their holdings of DAKT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Daktronics by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,856 shares of the technology company’s stock valued at $1,440,000 after buying an additional 519 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Daktronics by 0.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 77,264 shares of the technology company’s stock worth $1,503,000 after purchasing an additional 665 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Daktronics by 7.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock worth $210,000 after purchasing an additional 707 shares in the last quarter. Royal Bank of Canada lifted its holdings in Daktronics by 12.7% during the 4th quarter. Royal Bank of Canada now owns 6,430 shares of the technology company’s stock valued at $127,000 after purchasing an additional 724 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Daktronics by 3.2% during the 2nd quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after purchasing an additional 728 shares during the last quarter. 61.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DAKT. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a report on Monday, December 29th. Zacks Research cut shares of Daktronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Daktronics presently has an average rating of “Hold”.

Daktronics Stock Up 2.3%

NASDAQ:DAKT traded up $0.44 during mid-day trading on Tuesday, reaching $19.55. The stock had a trading volume of 338,677 shares, compared to its average volume of 566,225. The stock has a market cap of $944.27 million, a P/E ratio of 35.55, a PEG ratio of 0.61 and a beta of 1.70. The business’s 50 day moving average is $23.40 and its 200 day moving average is $21.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. Daktronics has a fifty-two week low of $10.92 and a fifty-two week high of $28.27.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, March 4th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.09). Daktronics had a return on equity of 16.55% and a net margin of 3.43%.The business had revenue of $181.87 million during the quarter, compared to the consensus estimate of $181.00 million. As a group, sell-side analysts predict that Daktronics will post 0.96 earnings per share 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.