Short Interest in BK Technologies Co. (NYSEAMERICAN:BKTI) Increases By 84.4%

BK Technologies Co. (NYSEAMERICAN:BKTI) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 11,800 shares, an increase of 84.4% from the January 15th total of 6,400 shares. Based on an average daily trading volume, of 30,800 shares, the short-interest ratio is presently 0.4 days. Approximately 0.4% of the company’s stock are sold short.

Insider Transactions at BK Technologies

In other news, Director Charles T. Lanktree sold 992 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $35.00, for a total transaction of $34,720.00. Following the completion of the sale, the director now directly owns 549 shares of the company’s stock, valued at $19,215. This trade represents a 64.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BK Technologies

Several large investors have recently bought and sold shares of BKTI. Bard Associates Inc. lifted its position in shares of BK Technologies by 0.6% during the 3rd quarter. Bard Associates Inc. now owns 143,448 shares of the company’s stock worth $3,123,000 after buying an additional 871 shares during the period. Geode Capital Management LLC boosted its holdings in BK Technologies by 52.7% in the third quarter. Geode Capital Management LLC now owns 30,224 shares of the company’s stock valued at $658,000 after acquiring an additional 10,431 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in BK Technologies by 64,342.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,511 shares of the company’s stock worth $98,000 after acquiring an additional 4,504 shares during the period. Ritholtz Wealth Management acquired a new position in BK Technologies in the fourth quarter valued at about $488,000. Finally, IFP Advisors Inc acquired a new position in BK Technologies during the fourth quarter valued at approximately $99,000. 55.05% of the stock is currently owned by institutional investors and hedge funds.

BK Technologies Stock Up 9.0 %

BKTI traded up $2.61 during midday trading on Friday, reaching $31.58. The company’s stock had a trading volume of 17,530 shares, compared to its average volume of 26,557. BK Technologies has a twelve month low of $11.10 and a twelve month high of $38.70. The firm has a market capitalization of $112.42 million, a P/E ratio of 23.05 and a beta of 1.22.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital initiated coverage on BK Technologies in a report on Friday. They set a “buy” rating and a $40.00 target price on the stock.

About BK Technologies

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).