Data I/O Corporation (NASDAQ:DAIO) Sees Large Decline in Short Interest

Data I/O Corporation (NASDAQ:DAIO) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 7,721 shares, a decrease of 75.5% from the May 31st total of 31,567 shares. Based on an average daily trading volume, of 91,085 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Data I/O Price Performance

Shares of NASDAQ:DAIO traded up $0.04 on Friday, hitting $3.76. The company’s stock had a trading volume of 30,197 shares, compared to its average volume of 99,135. The company has a market capitalization of $35.31 million, a PE ratio of -4.48 and a beta of 1.27. The company has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $3.03. Data I/O has a 1 year low of $2.16 and a 1 year high of $4.49.

Data I/O (NASDAQ:DAIO) last issued its quarterly earnings data on Friday, May 15th. The electronics maker reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.18). The business had revenue of $3.25 million for the quarter, compared to analysts’ expectations of $4.00 million. Data I/O had a negative return on equity of 54.33% and a negative net margin of 41.85%. On average, equities research analysts expect that Data I/O will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DAIO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Data I/O in a research note on Monday, April 20th. Zacks Research upgraded shares of Data I/O from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Finally, LADENBURG THALM/SH SH raised shares of Data I/O to a “strong-buy” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.11.

Hedge Funds Weigh In On Data I/O

A number of institutional investors have recently made changes to their positions in DAIO. Kovack Advisors Inc. lifted its holdings in shares of Data I/O by 2.2% during the 4th quarter. Kovack Advisors Inc. now owns 268,906 shares of the electronics maker’s stock worth $871,000 after acquiring an additional 5,675 shares during the last quarter. Penbrook Management LLC increased its stake in Data I/O by 1.2% in the fourth quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock valued at $1,131,000 after acquiring an additional 4,100 shares during the last quarter. DRW Securities LLC purchased a new stake in Data I/O during the fourth quarter valued at about $37,000. NewEdge Advisors LLC raised its position in Data I/O by 45.4% during the second quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock valued at $69,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Data I/O by 24.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 43,472 shares of the electronics maker’s stock worth $138,000 after purchasing an additional 8,555 shares during the last quarter. Institutional investors own 36.95% of the company’s stock.

Data I/O Company Profile

Data I/O Corporation is a provider of device programming solutions for semiconductor and microcontroller manufacturers, test houses, contract manufacturers and electronics design engineers. The company’s product portfolio includes universal and site-specific programmers, automated programming systems and software tools that enable high-volume production, development and field programming of non-volatile memories and microcontrollers. Data I/O’s solutions are designed to support a wide range of programmable devices, including Flash, EPROM, EEPROM, PLDs, FPGAs and automotive-grade microcontrollers.

The company’s flagship technologies include its high-speed FlashCORE III programming engines and the SB-OS-A automated handling system, which together streamline production workflows by providing scalable, multi-site programming capabilities.