BK Technologies Co. (NYSEAMERICAN:BKTI) Short Interest Update

BK Technologies Co. (NYSEAMERICAN:BKTI) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 5,700 shares, a drop of 51.7% from the January 31st total of 11,800 shares. Based on an average daily volume of 28,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

BK Technologies Stock Performance

BKTI stock traded up $0.31 during mid-day trading on Friday, reaching $30.50. 14,740 shares of the company traded hands, compared to its average volume of 25,183. The company has a market capitalization of $108.58 million, a P/E ratio of 22.26 and a beta of 1.22. BK Technologies has a fifty-two week low of $11.15 and a fifty-two week high of $38.70.

Insiders Place Their Bets

In other news, Director Charles T. Lanktree sold 992 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $35.00, for a total transaction of $34,720.00. Following the transaction, the director now directly owns 549 shares of the company’s stock, valued at $19,215. This represents a 64.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.48% of the company’s stock.

Institutional Investors Weigh In On BK Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 in the last quarter. Geode Capital Management LLC boosted its position in BK Technologies by 52.7% in the third quarter. Geode Capital Management LLC now owns 30,224 shares of the company’s stock worth $658,000 after purchasing an additional 10,431 shares during the last quarter. EAM Investors LLC bought a new position in BK Technologies in the 4th quarter valued at $891,000. Marshall Wace LLP purchased a new stake in shares of BK Technologies during the 4th quarter valued at $890,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of BK Technologies during the 4th quarter worth $863,000. 55.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital initiated coverage on shares of BK Technologies in a research note on Friday, February 14th. They issued a “buy” rating and a $40.00 price objective on the stock.

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).