Bk Technologies, Inc. (NYSEAMERICAN:BKTI) Sees Large Decline in Short Interest

Bk Technologies, Inc. (NYSEAMERICAN:BKTI) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 75,700 shares, a decrease of 32.4% from the September 30th total of 112,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average trading volume of 62,500 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 62,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.8% of the company’s shares are short sold.

Insider Activity at Bk Technologies

In related news, insider Branko Avanic sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $68.41, for a total value of $136,820.00. Following the completion of the sale, the insider owned 10,969 shares in the company, valued at approximately $750,389.29. This represents a 15.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC bought a new position in shares of Bk Technologies during the 3rd quarter valued at $8,364,000. Pembroke Management LTD bought a new position in shares of Bk Technologies during the 3rd quarter valued at $567,000. Ritholtz Wealth Management raised its holdings in shares of Bk Technologies by 4.5% during the 3rd quarter. Ritholtz Wealth Management now owns 38,003 shares of the company’s stock valued at $3,210,000 after purchasing an additional 1,627 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Bk Technologies during the 3rd quarter valued at $225,000. Finally, Baron Wealth Management LLC bought a new position in shares of Bk Technologies during the 3rd quarter valued at $279,000. Institutional investors own 55.05% of the company’s stock.

Bk Technologies Trading Down 0.9%

Shares of NYSEAMERICAN:BKTI opened at $74.71 on Friday. Bk Technologies has a 1 year low of $26.20 and a 1 year high of $86.24. The business has a fifty day simple moving average of $73.19 and a 200 day simple moving average of $55.36. The firm has a market cap of $278.67 million, a price-to-earnings ratio of 24.34 and a beta of 0.43.

Analysts Set New Price Targets

Separately, Lake Street Capital reiterated a “buy” rating on shares of Bk Technologies in a research report on Monday, September 15th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $74.00.

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).