Data I/O Corporation (NASDAQ:DAIO) Sees Large Drop in Short Interest

Data I/O Corporation (NASDAQ:DAIO) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 7,721 shares, a drop of 75.5% from the May 31st total of 31,567 shares. Based on an average trading volume of 91,085 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DAIO shares. LADENBURG THALM/SH SH upgraded Data I/O to a “strong-buy” rating in a report on Wednesday, May 6th. Zacks Research raised Data I/O from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Data I/O in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Data I/O presently has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Data I/O Stock Performance

DAIO traded up $0.21 on Monday, hitting $3.97. 88,390 shares of the company were exchanged, compared to its average volume of 53,311. The stock’s fifty day moving average is $3.30 and its 200-day moving average is $3.03. Data I/O has a 12 month low of $2.16 and a 12 month high of $4.49. The company has a market cap of $37.28 million, a PE ratio of -4.73 and a beta of 1.26.

Data I/O (NASDAQ:DAIO) last announced its quarterly earnings data on Friday, May 15th. The electronics maker reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.18). The company had revenue of $3.25 million for the quarter, compared to the consensus estimate of $4.00 million. Data I/O had a negative return on equity of 54.33% and a negative net margin of 41.85%. As a group, equities research analysts expect that Data I/O will post -0.35 EPS for the current fiscal year.

Institutional Trading of Data I/O

A number of hedge funds have recently modified their holdings of the stock. Kovack Advisors Inc. lifted its position in Data I/O by 2.2% during the fourth quarter. Kovack Advisors Inc. now owns 268,906 shares of the electronics maker’s stock worth $871,000 after acquiring an additional 5,675 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Data I/O by 24.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 43,472 shares of the electronics maker’s stock worth $138,000 after purchasing an additional 8,555 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Data I/O by 45.4% during the 2nd quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock worth $69,000 after purchasing an additional 7,000 shares in the last quarter. DRW Securities LLC bought a new position in shares of Data I/O during the fourth quarter worth approximately $37,000. Finally, Penbrook Management LLC raised its position in shares of Data I/O by 1.2% in the fourth quarter. Penbrook Management LLC now owns 356,850 shares of the electronics maker’s stock valued at $1,131,000 after buying an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 36.95% of the company’s stock.

Data I/O Company Profile

Data I/O Corporation is a provider of device programming solutions for semiconductor and microcontroller manufacturers, test houses, contract manufacturers and electronics design engineers. The company’s product portfolio includes universal and site-specific programmers, automated programming systems and software tools that enable high-volume production, development and field programming of non-volatile memories and microcontrollers. Data I/O’s solutions are designed to support a wide range of programmable devices, including Flash, EPROM, EEPROM, PLDs, FPGAs and automotive-grade microcontrollers.

The company’s flagship technologies include its high-speed FlashCORE III programming engines and the SB-OS-A automated handling system, which together streamline production workflows by providing scalable, multi-site programming capabilities.