Daktronics, Inc. (NASDAQ:DAKT) Short Interest Up 24.7% in March

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,020,000 shares, an increase of 24.7% from the February 28th total of 1,620,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily trading volume, of 443,700 shares, the days-to-cover ratio is currently 4.6 days.

Analysts Set New Price Targets

Separately, Craig Hallum initiated coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price target on the stock.

Insiders Place Their Bets

In related news, Director Andrew David Siegel bought 7,200 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the purchase, the director now owns 40,946 shares in the company, valued at approximately $483,981.72. This represents a 21.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Daktronics

Several institutional investors have recently modified their holdings of DAKT. Quarry LP boosted its stake in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after buying an additional 989 shares during the period. Summit Investment Advisors Inc. grew its holdings in Daktronics by 29.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock valued at $71,000 after purchasing an additional 965 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in Daktronics in the 3rd quarter worth about $75,000. KLP Kapitalforvaltning AS purchased a new stake in Daktronics in the 4th quarter worth about $125,000. Finally, Knott David M Jr bought a new stake in Daktronics in the fourth quarter worth about $132,000. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Up 2.9 %

Shares of Daktronics stock opened at $13.25 on Thursday. The company has a fifty day moving average of $14.63 and a 200 day moving average of $14.92. Daktronics has a fifty-two week low of $8.81 and a fifty-two week high of $19.89. The company has a market capitalization of $693.47 million, a P/E ratio of 53.00, a P/E/G ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.