Daktronics, Inc. (NASDAQ:DAKT – Get Free Report) shot up 8.8% during mid-day trading on Thursday . The stock traded as high as $21.86 and last traded at $20.82. 184,713 shares changed hands during trading, a decline of 58% from the average session volume of 441,856 shares. The stock had previously closed at $19.13.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on DAKT. Zacks Research downgraded shares of Daktronics from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Weiss Ratings downgraded shares of Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Finally, Roth Mkm began coverage on Daktronics in a research report on Wednesday. They issued a “buy” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.00.
Get Our Latest Analysis on DAKT
Daktronics Price Performance
Hedge Funds Weigh In On Daktronics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Daktronics during the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Daktronics in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Daktronics by 22,566.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after buying an additional 1,354 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after buying an additional 2,045 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in Daktronics in the 4th quarter valued at $57,000. 61.69% of the stock is owned by institutional investors.
About Daktronics
Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.
The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.
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