Nortech Systems Incorporated (NASDAQ:NSYS) Short Interest Update

Nortech Systems Incorporated (NASDAQ:NSYS) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 3,745 shares, a drop 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. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Nortech Systems

A hedge fund recently bought a new position in Nortech Systems stock. BlackRock Inc. acquired a new stake in shares of Nortech Systems Incorporated (NASDAQ:NSYS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,456 shares of the electronics maker’s stock, valued at approximately $70,000. BlackRock Inc. owned approximately 0.16% of Nortech Systems as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 3.05% of the company’s stock.

Nortech Systems Price Performance

Shares of NSYS stock opened at $11.19 on Monday. Nortech Systems has a twelve month low of $6.50 and a twelve month 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 stock has a fifty day simple moving average of $13.19 and a two-hundred day simple moving average of $13.25. The stock has a market capitalization of $31.89 million, a price-to-earnings ratio of 31.08 and a beta of -0.06.

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

Wall Street Analysts Forecast Growth

NSYS has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Nortech Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Nortech Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

About Nortech Systems

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.