BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Large Growth in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI) saw a large 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. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 30,800 shares, the days-to-cover ratio is presently 0.4 days.

Insider Buying and Selling

In related news, Director Charles T. Lanktree sold 992 shares of BK Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $35.00, for a total transaction of $34,720.00. Following the transaction, the director now owns 549 shares in the company, valued at approximately $19,215. The trade was a 64.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. raised its holdings in shares of BK Technologies by 0.6% during the third quarter. Bard Associates Inc. now owns 143,448 shares of the company’s stock valued at $3,123,000 after acquiring an additional 871 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in BK Technologies by 30.6% in the 4th quarter. JPMorgan Chase & Co. now owns 5,891 shares of the company’s stock valued at $202,000 after purchasing an additional 1,380 shares in the last quarter. Barclays PLC purchased a new stake in shares of BK Technologies during the fourth quarter worth $60,000. IFP Advisors Inc acquired a new position in BK Technologies during the fourth quarter worth about $99,000. Finally, Mariner LLC grew its stake in BK Technologies by 33.3% during the 4th quarter. Mariner LLC now owns 12,945 shares of the company’s stock valued at $444,000 after acquiring an additional 3,234 shares in the last quarter. Hedge funds and other institutional investors own 55.05% of the company’s stock.

BK Technologies Stock Up 9.0 %

BKTI stock traded up $2.61 during trading on Friday, reaching $31.58. The company 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 stock has a market capitalization of $112.42 million, a PE ratio of 23.05 and a beta of 1.22.

Analysts Set New Price Targets

Separately, Lake Street Capital assumed coverage on shares of BK Technologies in a research note on Friday. They issued a “buy” rating and a $40.00 price objective for the company.

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).