Data I/O Corporation (NASDAQ:DAIO) Sees Significant Growth in Short Interest

Data I/O Corporation (NASDAQ:DAIO) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 29,534 shares, a growth of 1,012.8% from the April 30th total of 2,654 shares. Based on an average daily volume of 77,129 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts have issued reports on DAIO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Data I/O in a report on Monday, April 20th. LADENBURG THALM/SH SH raised shares of Data I/O to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised shares of Data I/O from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.11.

Data I/O Price Performance

NASDAQ DAIO traded up $0.04 on Wednesday, hitting $3.19. The stock had a trading volume of 53,971 shares, compared to its average volume of 59,298. Data I/O has a 52-week low of $2.16 and a 52-week high of $3.57. The business’s fifty day moving average price is $2.66 and its 200 day moving average price is $2.86. The stock has a market cap of $29.95 million, a price-to-earnings ratio of -3.80 and a beta of 1.09.

Data I/O (NASDAQ:DAIO) last posted its quarterly earnings data on Friday, May 15th. The electronics maker reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.18). Data I/O had a negative return on equity of 54.33% and a negative net margin of 41.85%.The company had revenue of $3.25 million for the quarter, compared to analyst estimates of $4.00 million. As a group, sell-side analysts anticipate that Data I/O will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Data I/O

Several institutional investors and hedge funds have recently made changes to their positions in DAIO. NewEdge Advisors LLC lifted its stake in shares of Data I/O by 45.4% during the second quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock worth $69,000 after buying an additional 7,000 shares during the period. Penbrook Management LLC lifted its stake in shares of Data I/O by 1.2% during the fourth quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock worth $1,131,000 after buying an additional 4,100 shares during the period. Kovack Advisors Inc. lifted its stake in shares of Data I/O by 2.2% during the fourth quarter. Kovack Advisors Inc. now owns 268,906 shares of the electronics maker’s stock worth $871,000 after buying an additional 5,675 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Data I/O by 24.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 43,472 shares of the electronics maker’s stock worth $138,000 after buying an additional 8,555 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Data I/O during the fourth quarter worth $37,000. 36.95% of the stock is currently owned by institutional investors and hedge funds.

About Data I/O

Data I/O Corporation is a provider of device programming solutions for semiconductor and microcontroller manufacturers, test houses, contract manufacturers and electronics design engineers. The company’s product portfolio includes universal and site-specific programmers, automated programming systems and software tools that enable high-volume production, development and field programming of non-volatile memories and microcontrollers. Data I/O’s solutions are designed to support a wide range of programmable devices, including Flash, EPROM, EEPROM, PLDs, FPGAs and automotive-grade microcontrollers.

The company’s flagship technologies include its high-speed FlashCORE III programming engines and the SB-OS-A automated handling system, which together streamline production workflows by providing scalable, multi-site programming capabilities.