BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Large Increase in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 21,600 shares, a growth of 1,036.8% from the March 31st total of 1,900 shares. Based on an average trading volume of 34,400 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.8% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Lake Street Capital increased their price objective on shares of BK Technologies from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, April 21st.

Hedge Funds Weigh In On BK Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKTI. Ritholtz Wealth Management increased its position in BK Technologies by 68.4% during the first quarter. Ritholtz Wealth Management now owns 23,973 shares of the company’s stock worth $940,000 after purchasing an additional 9,741 shares during the last quarter. Lazard Asset Management LLC increased its position in BK Technologies by 2,988.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,544 shares of the company’s stock worth $52,000 after purchasing an additional 1,494 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in BK Technologies during the fourth quarter worth about $314,000. Bank of America Corp DE increased its position in BK Technologies by 3,882.6% during the fourth quarter. Bank of America Corp DE now owns 916 shares of the company’s stock worth $31,000 after purchasing an additional 893 shares during the last quarter. Finally, Northern Trust Corp increased its position in BK Technologies by 68.7% during the fourth quarter. Northern Trust Corp now owns 18,487 shares of the company’s stock worth $634,000 after purchasing an additional 7,528 shares during the last quarter. 55.05% of the stock is owned by hedge funds and other institutional investors.

BK Technologies Trading Down 3.6 %

NYSEAMERICAN:BKTI opened at $43.62 on Monday. The firm has a market capitalization of $155.29 million, a PE ratio of 31.84 and a beta of 1.22. BK Technologies has a 1-year low of $11.67 and a 1-year high of $48.43.

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).