The stock of Daktronics, Inc. (NASDAQ:DAKT) is now priced at $4.28 and the shares are -0.07 points down or -1.61% lower compared to its previous closing price of $4.35. The stock had 185629 contracts set over the past session. DAKT shares’ daily volume is compared to its average trading volume at 246055 shares. However, it has a float of 36.57 million and although its performance was 4.39% over the week, it’s one to watch. Analysts have given the DAKT stock a yearly average price target of $6.75 per share. It means the stock’s upside potential is 57.71% with the DAKT share price recently placing at $4.25 to $4.38. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Daktronics, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the DAKT shares have risen. Short interest in the stock represents just 6.94% of its float, but the volume has raised by 82107. The volume of shorted shares rised to 2.539 million from 2.457 million shares over the last two weeks. The average intraday trading volume has been 217594 shares, which means that days to cover moved to roughly 11.667767.
In the last trading session, Daktronics, Inc. (NASDAQ:DAKT) raised by $0.18 over the week and lost -$0.28 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.95. The stock recorded its established 52-week high on 09/13/19.
Since 05/14/20, the stock has traded to a low of $3.69 at 15.99%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.74. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Daktronics, Inc.’s two-week RSI is 46.64. This suggests that the stock is neutral at the moment and that DAKT shares’ price movement remains stable. The stochastic readings are equally revealing at 34.67% meaning the DAKT share price is currently in neutral territory.
The technical chart shows that the DAKT stock will likely settle at between $4.39 and $4.49 per share. However, if the stock dips below $4.17, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.05.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned DAKT a rating of Neutral in their intiating review released on January 24. Sidoti analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on June 01. Needham seeing the improvements upgraded the stock from Hold to Buy on September 23, placing it at $10.
The average rating for the DAKT equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Daktronics, Inc. polled by Reuters, 1 rated DAKT as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DAKT stock price is 22.53X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 435 above the group’s average of 13.5. Daktronics, Inc. has its P/E ratio at 1.1, which means that the stock is currently trading at a discount relative to the 3.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Daktronics, Inc. (NASDAQ:DAKT) will decrease by about -99.86%, which will see them reach $170.38 million. The company’s full-year revenues are, however, expected to increase by about 0.81%, up from $608.93 million to $613.86 million. DAKT’s expected adjusted earnings should drop almost -50% to end up at $0.08 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 800% to record $0.09/share.