Daktronics, Inc. (NASDAQ:DAKT) Short Interest Down 33.1% in March

Daktronics, Inc. (NASDAQ:DAKT) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 3,660,000 shares, a decrease of 33.1% from the February 29th total of 5,470,000 shares. Based on an average trading volume of 591,900 shares, the short-interest ratio is currently 6.2 days. Currently, 9.7% of the shares of the stock are sold short.

Daktronics Stock Up 1.3 %

DAKT stock traded up $0.13 during midday trading on Friday, hitting $9.96. The company’s stock had a trading volume of 433,843 shares, compared to its average volume of 551,466. Daktronics has a 52-week low of $4.66 and a 52-week high of $12.42. The firm has a 50-day simple moving average of $8.39 and a 200-day simple moving average of $8.97. The firm has a market capitalization of $460.05 million, a P/E ratio of 9.67, a PEG ratio of 0.29 and a beta of 1.06. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.30.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported ($0.03) earnings per share for the quarter. Daktronics had a net margin of 6.59% and a return on equity of 30.57%. The firm had revenue of $170.30 million during the quarter. As a group, equities analysts forecast that Daktronics will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in Daktronics by 6.8% during the 3rd quarter. UBS Group AG now owns 23,197 shares of the technology company’s stock worth $207,000 after acquiring an additional 1,471 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Daktronics by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,600 shares of the technology company’s stock valued at $211,000 after purchasing an additional 2,400 shares during the period. Watershed Asset Management L.L.C. increased its stake in Daktronics by 12.7% in the fourth quarter. Watershed Asset Management L.L.C. now owns 32,326 shares of the technology company’s stock valued at $274,000 after purchasing an additional 3,655 shares during the period. Prelude Capital Management LLC increased its stake in Daktronics by 21.9% in the fourth quarter. Prelude Capital Management LLC now owns 24,127 shares of the technology company’s stock valued at $205,000 after purchasing an additional 4,340 shares during the period. Finally, SG Americas Securities LLC increased its stake in Daktronics by 26.9% in the fourth quarter. SG Americas Securities LLC now owns 20,815 shares of the technology company’s stock valued at $177,000 after purchasing an additional 4,416 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Daktronics from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. TheStreet cut shares of Daktronics from a “b-” rating to a “c+” rating in a research report on Friday, January 5th.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.