Daktronics (NASDAQ:DAKT) Stock Passes Above Two Hundred Day Moving Average of $9.04

Shares of Daktronics, Inc. (NASDAQ:DAKT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.04 and traded as high as $9.20. Daktronics shares last traded at $9.11, with a volume of 277,730 shares.

Analysts Set New Price Targets

DAKT has been the subject of several recent analyst reports. StockNews.com downgraded Daktronics from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. TheStreet downgraded Daktronics from a “b-” rating to a “c+” rating in a research note on Friday, January 5th.

Daktronics Stock Up 2.8 %

The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $441.11 million, a P/E ratio of 9.27, a P/E/G ratio of 0.27 and a beta of 1.08. The business has a 50-day moving average price of $9.12 and a 200 day moving average price of $9.04.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $170.30 million during the quarter. Daktronics had a return on equity of 30.57% and a net margin of 6.59%. On average, equities analysts expect that Daktronics, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently bought and sold shares of DAKT. Breach Inlet Capital Management LLC purchased a new stake in Daktronics in the fourth quarter worth $11,508,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Daktronics in the first quarter worth $7,482,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Daktronics during the fourth quarter valued at $4,240,000. Anthracite Investment Company Inc. purchased a new position in shares of Daktronics during the fourth quarter valued at $4,069,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Daktronics by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock valued at $20,788,000 after buying an additional 305,597 shares during the period. Hedge funds and other institutional investors own 61.69% of the company’s stock.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.