BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Significant Drop in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,000 shares, a drop of 47.4% from the February 13th total of 5,700 shares. Based on an average daily volume of 26,200 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EAM Investors LLC bought a new stake in BK Technologies during the 4th quarter worth approximately $891,000. Marshall Wace LLP acquired a new position in shares of BK Technologies during the fourth quarter worth $890,000. O Shaughnessy Asset Management LLC bought a new stake in shares of BK Technologies in the fourth quarter worth $863,000. Ritholtz Wealth Management acquired a new stake in BK Technologies in the fourth quarter valued at $488,000. Finally, Geode Capital Management LLC raised its position in BK Technologies by 52.7% during the 3rd quarter. Geode Capital Management LLC now owns 30,224 shares of the company’s stock worth $658,000 after purchasing an additional 10,431 shares during the last quarter. 55.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital started coverage on BK Technologies in a research note on Friday, February 14th. They set a “buy” rating and a $40.00 target price for the company.

BK Technologies Trading Down 11.6 %

BK Technologies stock opened at $28.01 on Friday. The stock has a market capitalization of $99.72 million, a price-to-earnings ratio of 20.45 and a beta of 1.22. BK Technologies has a 12-month low of $11.67 and a 12-month high of $38.70.

BK Technologies Company Profile

BK Technologies Corporation, through its subsidiary, BK Technologies, Inc, engages in design, manufacture, and markets wireless communications products in the United States and internationally. The company offers two-way land mobile radios (LMR) that are hand-held (portable) or installed in vehicles (mobile).