Bk Technologies (NYSEAMERICAN:BKTI) Shares Down 8.1% - Here's Why

Bk Technologies, Inc. (NYSEAMERICAN:BKTI - Get Free Report) was down 8.1% during trading on Wednesday . The company traded as low as $42.22 and last traded at $42.26. Approximately 78,117 shares traded hands during trading, an increase of 87% from the average daily volume of 41,801 shares. The stock had previously closed at $46.00.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their price target on Bk Technologies from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 14th.

Bk Technologies Trading Up 1.3%

The business's fifty day moving average price is $46.07. The company has a market cap of $157.11 million, a price-to-earnings ratio of 16.59 and a beta of 0.32.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Bk Technologies by 3,882.6% during the 4th quarter. Bank of America Corp DE now owns 916 shares of the company's stock worth $31,000 after purchasing an additional 893 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Bk Technologies by 2,988.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,544 shares of the company's stock worth $52,000 after purchasing an additional 1,494 shares during the last quarter. Barclays PLC acquired a new position in shares of Bk Technologies during the 4th quarter worth approximately $60,000. JPMorgan Chase & Co. increased its holdings in shares of Bk Technologies by 30.6% during the 4th quarter. JPMorgan Chase & Co. now owns 5,891 shares of the company's stock worth $202,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Bk Technologies during the 4th quarter worth approximately $215,000. 55.05% of the stock is currently owned by institutional investors.

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).