Daktronics (NASDAQ:DAKT) Shares Gap Down on Disappointing Earnings

Daktronics, Inc. (NASDAQ:DAKT) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $14.33, but opened at $11.05. Daktronics shares last traded at $11.84, with a volume of 314,457 shares trading hands.

The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.08). Daktronics had a net margin of 3.62% and a return on equity of 19.61%.

Analyst Upgrades and Downgrades

Separately, Craig Hallum began coverage on Daktronics in a report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 target price on the stock.

Insider Buying and Selling

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

Institutional Trading of Daktronics

A number of institutional investors have recently modified their holdings of the company. Atria Investments Inc acquired a new stake in Daktronics in the 3rd quarter valued at approximately $171,000. Versor Investments LP bought a new position in shares of Daktronics during the 3rd quarter worth approximately $281,000. GSA Capital Partners LLP acquired a new stake in shares of Daktronics in the third quarter valued at approximately $436,000. Victory Capital Management Inc. lifted its position in shares of Daktronics by 31.6% in the third quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company’s stock worth $2,476,000 after purchasing an additional 46,104 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Daktronics by 5.4% during the third quarter. Empowered Funds LLC now owns 226,070 shares of the technology company’s stock worth $2,919,000 after purchasing an additional 11,524 shares during the last quarter. 61.69% of the stock is currently owned by institutional investors.

Daktronics Trading Down 12.9 %

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 business’s 50-day moving average is $16.38 and its two-hundred day moving average is $15.11. The firm has a market cap of $587.70 million, a P/E ratio of 49.82, a P/E/G ratio of 0.57 and a beta of 1.16.

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.