Daktronics (NASDAQ:DAKT) Stock Price Up 5.3% – What’s Next?

Daktronics, Inc. (NASDAQ:DAKT)’s share price shot up 5.3% during mid-day trading on Thursday . The stock traded as high as $12.65 and last traded at $12.84. 61,789 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 462,582 shares. The stock had previously closed at $12.20.

Analyst Ratings Changes

Separately, Craig Hallum assumed coverage on Daktronics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 price objective for the company.

Daktronics Stock Performance

The firm’s fifty day simple moving average is $16.38 and its 200 day simple moving average is $15.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The company has a market capitalization of $611.19 million, a price-to-earnings ratio of 51.92, a PEG ratio of 0.57 and a beta of 1.12.

Daktronics (NASDAQ:DAKT) last announced its earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. On average, sell-side analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the transaction, the chief executive officer now owns 469,727 shares in the company, valued at $8,807,381.25. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Patrick Friel sold 2,244 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the sale, the director now directly owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Daktronics

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Daktronics during the 3rd quarter valued at about $427,000. FMR LLC boosted its holdings in Daktronics by 5,451.9% during the third quarter. FMR LLC now owns 48,690 shares of the technology company’s stock valued at $629,000 after acquiring an additional 47,813 shares during the period. 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 purchasing an additional 45,360 shares during the period. Foundry Partners LLC acquired a new stake in Daktronics in the 3rd quarter valued at approximately $4,101,000. Finally, PEAK6 Investments LLC increased its position in Daktronics by 269.9% in the 3rd quarter. PEAK6 Investments LLC now owns 42,073 shares of the technology company’s stock worth $543,000 after buying an additional 30,699 shares during the period. 61.69% of the stock is owned by institutional investors.

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.