BK Technologies Co. (NYSEAMERICAN:BKTI) Short Interest Update

BK Technologies Co. (NYSEAMERICAN:BKTI) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 11,800 shares, a growth of 84.4% from the January 15th total of 6,400 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 30,800 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital started coverage on BK Technologies in a research report on Friday. They issued a “buy” rating and a $40.00 price target on the stock.

BK Technologies Stock Performance

BKTI stock traded up $2.61 on Friday, reaching $31.58. The company had a trading volume of 17,530 shares, compared to its average volume of 26,557. The firm has a market cap of $112.42 million, a P/E ratio of 23.05 and a beta of 1.22. BK Technologies has a 1 year low of $11.10 and a 1 year high of $38.70.

Insider Buying and Selling

In other news, Director Charles T. Lanktree sold 992 shares of BK Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $35.00, for a total transaction of $34,720.00. Following the completion of the sale, the director now directly owns 549 shares of the company’s stock, valued at approximately $19,215. The trade was a 64.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ritholtz Wealth Management purchased a new stake in shares of BK Technologies during the 4th quarter valued at about $488,000. JPMorgan Chase & Co. increased its stake in BK Technologies by 64,342.9% during the third quarter. JPMorgan Chase & Co. now owns 4,511 shares of the company’s stock valued at $98,000 after purchasing an additional 4,504 shares during the last quarter. Geode Capital Management LLC lifted its holdings in BK Technologies by 52.7% in the third quarter. Geode Capital Management LLC now owns 30,224 shares of the company’s stock worth $658,000 after acquiring an additional 10,431 shares during the last quarter. Bard Associates Inc. grew its position in shares of BK Technologies by 0.6% during the third quarter. Bard Associates Inc. now owns 143,448 shares of the company’s stock worth $3,123,000 after acquiring an additional 871 shares during the last quarter. Finally, Mariner LLC increased its position in BK Technologies by 33.3% in the 4th quarter. Mariner LLC now owns 12,945 shares of the company’s stock valued at $444,000 after acquiring an additional 3,234 shares during the period. 55.05% of the stock is currently owned by hedge funds and other institutional investors.

About BK Technologies

BK Technologies Corporation, through its subsidiary, BK Technologies, Inc, engages in design, manufacture, and markets wireless communications products in the United States and internationally. The company offers two-way land mobile radios (LMR) that are hand-held (portable) or installed in vehicles (mobile).