Short Interest in BK Technologies Co. (NYSEAMERICAN:BKTI) Grows By 52.9%

BK Technologies Co. (NYSEAMERICAN:BKTI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 13,000 shares, an increase of 52.9% from the September 30th total of 8,500 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 48,400 shares, the days-to-cover ratio is presently 0.3 days.

BK Technologies Stock Performance

Shares of BKTI stock opened at $27.40 on Tuesday. BK Technologies has a 1 year low of $11.06 and a 1 year high of $29.94. The firm has a market cap of $97.00 million, a P/E ratio of 35.58 and a beta of 1.22.

BK Technologies (NYSEAMERICAN:BKTI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.47 earnings per share for the quarter. BK Technologies had a net margin of 3.64% and a return on equity of 14.70%. The firm had revenue of $20.25 million for the quarter.

Insider Activity

In other news, Director Joshua Horowitz purchased 3,330 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $19.86 per share, with a total value of $66,133.80. Following the completion of the transaction, the director now directly owns 90,000 shares in the company, valued at $1,787,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.48% of the company’s stock.

Institutional Investors Weigh In On BK Technologies

An institutional investor recently raised its position in BK Technologies stock. Renaissance Technologies LLC grew its position in BK Technologies Co. (NYSEAMERICAN:BKTI) by 52.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,816 shares of the company’s stock after purchasing an additional 48,838 shares during the period. Renaissance Technologies LLC owned about 4.02% of BK Technologies worth $1,815,000 as of its most recent filing with the SEC. Institutional investors own 55.05% of the company’s 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).