Short Interest in Bk Technologies, Inc. (NYSEAMERICAN:BKTI) Decreases By 23.8%

Key Points

• Bk Technologies experienced a significant 23.8% drop in short interest in August, with a total of 88,800 shares shorted.
• Insider Branko Avanic sold 2,000 shares of BKTI stock on September 8th, reducing their ownership by 15.42%.
• Institutional investors own approximately 55.05% of Bk Technologies stock, with several firms significantly increasing their stakes recently.

Bk Technologies, Inc. (NYSEAMERICAN:BKTI - Get Free Report) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 88,800 shares, a decline of 23.8% from the August 15th total of 116,500 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 82,600 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 82,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Bk Technologies Price Performance

Shares of BKTI stock traded up $1.38 on Friday, reaching $77.63. 126,714 shares of the stock were exchanged, compared to its average volume of 51,832. Bk Technologies has a one year low of $19.48 and a one year high of $77.63. The stock has a 50 day moving average price of $56.01 and a 200 day moving average price of $46.81. The stock has a market cap of $289.56 million, a PE ratio of 25.29 and a beta of 0.43.

Insider Transactions at Bk Technologies

In other news, insider Branko Avanic sold 2,000 shares of Bk Technologies stock in a transaction on Monday, September 8th. The stock was sold at an average price of $68.41, for a total transaction of $136,820.00. Following the transaction, the insider owned 10,969 shares in the company, valued at $750,389.29. The trade was a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of Bk Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey bought a new position in Bk Technologies during the 2nd quarter worth $25,000. BNP Paribas Financial Markets bought a new position in shares of Bk Technologies in the second quarter valued at approximately $25,000. Raymond James Financial Inc. purchased a new position in Bk Technologies in the second quarter valued at approximately $32,000. Bank of America Corp DE increased its stake in Bk Technologies by 3,882.6% in the fourth quarter. Bank of America Corp DE now owns 916 shares of the company's stock valued at $31,000 after acquiring an additional 893 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bk Technologies during the second quarter valued at about $70,000. Institutional investors own 55.05% of the company's stock.

About Bk Technologies

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).