Daktronics (NASDAQ:DAKT) Trading Up 4.4% – Time to Buy?

Daktronics, Inc. (NASDAQ:DAKT) was up 4.4% during trading on Tuesday . The company traded as high as $19.10 and last traded at $19.07. Approximately 202,144 shares changed hands during trading, a decline of 60% from the average daily volume of 505,150 shares. The stock had previously closed at $18.27.

Analyst Ratings Changes

A number of analysts recently issued reports on DAKT shares. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a research report on Monday, September 9th.

Daktronics Trading Down 2.9 %

The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $14.64 and its 200-day moving average is $13.69. The stock has a market capitalization of $878.17 million, a PE ratio of 74.76, a P/E/G ratio of 0.73 and a beta of 1.19.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares in the company, valued at $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Daktronics

A number of large investors have recently added to or reduced their stakes in DAKT. Franklin Resources Inc. boosted its holdings in Daktronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after purchasing an additional 654 shares during the last quarter. Barclays PLC increased its stake in shares of Daktronics by 348.2% in the third quarter. Barclays PLC now owns 58,388 shares of the technology company’s stock worth $754,000 after buying an additional 45,360 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in Daktronics in the third quarter valued at $75,000. Virtus Investment Advisers Inc. bought a new position in Daktronics during the 3rd quarter valued at $388,000. Finally, Quarry LP boosted its stake in Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after acquiring an additional 989 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Company Profile

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.