Napco Security Technologies, Inc. (NASDAQ:NSSC) Sees Large Growth in Short Interest

Napco Security Technologies, Inc. (NASDAQ:NSSC) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,050,000 shares, a growth of 32.0% from the February 28th total of 2,310,000 shares. Currently, 8.8% of the company’s shares are short sold. Based on an average daily trading volume, of 537,000 shares, the days-to-cover ratio is currently 5.7 days.

Napco Security Technologies Stock Up 1.3 %

NSSC traded up $0.29 during trading on Wednesday, hitting $22.96. The company had a trading volume of 156,958 shares, compared to its average volume of 491,997. The company has a market capitalization of $835.77 million, a PE ratio of 17.66 and a beta of 1.59. Napco Security Technologies has a one year low of $22.28 and a one year high of $58.09. The firm’s 50-day moving average price is $26.66 and its 200 day moving average price is $34.04.

Napco Security Technologies (NASDAQ:NSSC) last issued its quarterly earnings results on Monday, February 3rd. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The firm had revenue of $42.90 million during the quarter, compared to the consensus estimate of $49.93 million. Napco Security Technologies had a net margin of 25.94% and a return on equity of 27.65%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. Sell-side analysts forecast that Napco Security Technologies will post 1.24 earnings per share for the current year.

Napco Security Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.50 annualized dividend and a dividend yield of 2.18%. Napco Security Technologies’s dividend payout ratio is currently 38.46%.

Institutional Trading of Napco Security Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in NSSC. Corient Private Wealth LLC raised its stake in shares of Napco Security Technologies by 102.4% during the 4th quarter. Corient Private Wealth LLC now owns 18,104 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 768,629 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Napco Security Technologies by 1,221.7% in the 4th quarter. Point72 Asset Management L.P. now owns 638,173 shares of the industrial products company’s stock valued at $22,693,000 after purchasing an additional 589,888 shares during the period. FMR LLC lifted its stake in Napco Security Technologies by 30.8% in the 3rd quarter. FMR LLC now owns 2,102,688 shares of the industrial products company’s stock valued at $85,075,000 after purchasing an additional 494,988 shares during the last quarter. Wellington Management Group LLP bought a new position in Napco Security Technologies during the fourth quarter worth about $10,427,000. Finally, JPMorgan Chase & Co. increased its position in Napco Security Technologies by 318.6% during the fourth quarter. JPMorgan Chase & Co. now owns 283,812 shares of the industrial products company’s stock worth $10,092,000 after buying an additional 216,017 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on Napco Security Technologies from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 21st. TD Cowen cut shares of Napco Security Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $46.00 to $27.00 in a report on Tuesday, February 4th. Craig Hallum lowered shares of Napco Security Technologies from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Tuesday, February 4th. Cowen lowered shares of Napco Security Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, StockNews.com upgraded Napco Security Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.50.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.