Daktronics (NASDAQ:DAKT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Daktronics, Inc. (NASDAQ:DAKT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.93 and traded as high as $15.40. Daktronics shares last traded at $14.80, with a volume of 1,229,825 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DAKT shares. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Singular Research raised shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Price Performance

The business has a 50-day moving average price of $13.16 and a 200 day moving average price of $12.94. The stock has a market cap of $672.42 million, a PE ratio of 184.38, a PEG ratio of 0.55 and a beta of 1.14. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The firm had revenue of $226.09 million during the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. As a group, research analysts forecast that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Daktronics

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

Institutional Trading of Daktronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of Daktronics during the first quarter valued at approximately $105,000. Vanguard Group Inc. lifted its position in Daktronics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after acquiring an additional 41,076 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Daktronics during the first quarter worth about $109,000. Progeny 3 Inc. bought a new position in shares of Daktronics during the first quarter valued at approximately $7,448,000. Finally, CWM LLC increased its holdings in Daktronics by 31.4% in the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

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.