Short Interest in BK Technologies Co. (NYSEAMERICAN:BKTI) Declines By 47.4%

BK Technologies Co. (NYSEAMERICAN:BKTI) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,000 shares, a drop of 47.4% from the February 13th total of 5,700 shares. Based on an average daily trading volume, of 26,200 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Lake Street Capital started coverage on shares of BK Technologies in a research report on Friday, February 14th. They issued a “buy” rating and a $40.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management purchased a new stake in shares of BK Technologies during the fourth quarter worth about $488,000. JPMorgan Chase & Co. raised its stake in BK Technologies by 64,342.9% in the third quarter. JPMorgan Chase & Co. now owns 4,511 shares of the company’s stock worth $98,000 after buying an additional 4,504 shares in the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 10,431 shares in the last quarter. IFP Advisors Inc bought a new position in BK Technologies in the fourth quarter worth about $99,000. Finally, Bard Associates Inc. raised its stake in BK Technologies by 0.6% in the third 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. 55.05% of the stock is currently owned by hedge funds and other institutional investors.

BK Technologies Price Performance

BKTI stock traded up $1.52 during midday trading on Friday, reaching $29.53. 13,396 shares of the company’s stock traded hands, compared to its average volume of 32,596. The stock has a market capitalization of $105.13 million, a price-to-earnings ratio of 21.55 and a beta of 1.22. BK Technologies has a 52 week low of $11.67 and a 52 week high of $38.70.

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).