Nortech Systems Incorporated (NASDAQ:NSYS) Sees Large Drop in Short Interest

Nortech Systems Incorporated (NASDAQ:NSYS) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 6,061 shares, a drop of 24.7% from the December 31st total of 8,045 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 5,581 shares, the short-interest ratio is currently 1.1 days. Based on an average daily volume of 5,581 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Nortech Systems in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nortech Systems Stock Performance

NASDAQ NSYS traded up $0.68 on Monday, hitting $9.55. 14,967 shares of the company traded hands, compared to its average volume of 5,083. The business’s 50 day moving average price is $7.64 and its 200-day moving average price is $8.46. Nortech Systems has a 52-week low of $6.50 and a 52-week high of $12.40. The company has a current ratio of 1.76, a quick ratio of 1.21 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $26.64 million and a price-to-earnings ratio of -10.05.

Nortech Systems (NASDAQ:NSYS) last posted its quarterly earnings data on Thursday, November 13th. The electronics maker reported ($0.05) EPS for the quarter. Nortech Systems had a negative return on equity of 7.93% and a negative net margin of 2.25%.The company had revenue of $30.48 million during the quarter.

About Nortech Systems

Nortech Systems, Inc is a specialized engineering and manufacturing company that designs, develops and produces custom gas distribution and control solutions. Its core offerings include cryogenic valves and regulators, gas distribution panels and manifolds, and precision instrumentation for monitoring and controlling the delivery of industrial, specialty and medical gases. The company leverages in-house engineering, machining and assembly capabilities to tailor products to the exact specifications of its customers.

In addition to its mechanical product lines, Nortech Systems provides electronic monitoring and control systems.