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

BK Technologies Co. (NYSEAMERICAN:BKTI - Get Free Report) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 15,200 shares, an increase of 44.8% from the May 15th total of 10,500 shares. Currently, 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 36,000 shares, the days-to-cover ratio is currently 0.4 days.

BK Technologies Trading Up 5.2%

Shares of NYSEAMERICAN BKTI traded up $2.16 during midday trading on Monday, reaching $43.41. 39,181 shares of the company traded hands, compared to its average volume of 33,813. The stock's 50-day moving average is $43.94. The firm has a market capitalization of $154.54 million, a P/E ratio of 31.69 and a beta of 1.22. BK Technologies has a 52 week low of $11.67 and a 52 week high of $48.43.

Analyst Ratings Changes

Separately, Lake Street Capital lifted their price target on shares of BK Technologies from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BKTI. IFP Advisors Inc purchased a new stake in BK Technologies during the fourth quarter valued at about $99,000. American Century Companies Inc. acquired a new stake in shares of BK Technologies during the fourth quarter valued at approximately $306,000. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 1,380 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in BK Technologies in the 4th quarter worth approximately $863,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BK Technologies during the 4th quarter worth approximately $215,000. Institutional investors and hedge funds 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).

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