Daktronics, Inc. (NASDAQ:DAKT) Short Interest Update

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,390,000 shares, a growth of 7.8% from the December 15th total of 1,290,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average trading volume of 478,800 shares, the days-to-cover ratio is presently 2.9 days.

Daktronics Stock Performance

NASDAQ:DAKT traded up $0.14 during trading hours on Friday, hitting $16.64. 220,628 shares of the company were exchanged, compared to its average volume of 418,439. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics has a 52-week low of $7.20 and a 52-week high of $19.89. The stock has a market capitalization of $781.91 million, a price-to-earnings ratio of 66.56, a PEG ratio of 0.56 and a beta of 1.17. The company’s 50 day moving average price is $16.49 and its 200-day moving average price is $14.67.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Insider Activity

In other news, CEO Reece A. Kurtenbach sold 8,048 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total value of $150,900.00. Following the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the transaction, the director now owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several hedge funds have recently made changes to their positions in DAKT. Rhumbline Advisers lifted its position in Daktronics by 10.9% during the 2nd quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock worth $806,000 after acquiring an additional 5,689 shares during the period. American Century Companies Inc. raised its holdings in shares of Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after purchasing an additional 187,486 shares during the last quarter. Progeny 3 Inc. boosted its position in Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after purchasing an additional 1,047,156 shares in the last quarter. Duquesne Family Office LLC grew its stake in shares of Daktronics by 20.3% during the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the period. Finally, Meros Investment Management LP increased its holdings in shares of Daktronics by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after purchasing an additional 7,885 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

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.