Bk Technologies (NYSEAMERICAN:BKTI) Trading Up 3.5% - Time to Buy?

Key Points

• Shares of Bk Technologies (NYSEAMERICAN: BKTI) rose by 3.5% during Thursday trading, reaching a high of $70.70.
• Analysts at Lake Street Capital increased their price target for Bk Technologies from $55.00 to $74.00, ensuring a consensus rating of "Buy".
• Institutional investors hold 55.05% of Bk Technologies' stock, with several hedge funds recently increasing their positions in the company.

Shares of Bk Technologies, Inc. (NYSEAMERICAN:BKTI - Get Free Report) shot up 3.5% on Thursday . The stock traded as high as $70.70 and last traded at $70.70. 74,862 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 87,022 shares. The stock had previously closed at $68.32.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price objective on shares of Bk Technologies from $55.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $74.00.

Bk Technologies Stock Down 2.1%

The company has a market cap of $255.32 million, a price-to-earnings ratio of 22.30 and a beta of 0.43. The company's 50 day moving average is $52.03.

Insider Activity

In related news, insider Branko Avanic sold 2,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $68.41, for a total value of $136,820.00. Following the completion of the sale, the insider directly owned 10,969 shares in the company, valued at approximately $750,389.29. The trade was a 15.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Bk Technologies by 68.7% during the fourth quarter. Northern Trust Corp now owns 18,487 shares of the company's stock valued at $634,000 after purchasing an additional 7,528 shares in the last quarter. Ritholtz Wealth Management raised its position in Bk Technologies by 68.4% during the first quarter. Ritholtz Wealth Management now owns 23,973 shares of the company's stock valued at $940,000 after purchasing an additional 9,741 shares in the last quarter. Lazard Asset Management LLC raised its position in Bk Technologies by 2,988.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,544 shares of the company's stock valued at $52,000 after purchasing an additional 1,494 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Bk Technologies during the fourth quarter valued at approximately $314,000. Finally, Uniplan Investment Counsel Inc. raised its position in Bk Technologies by 40.1% during the first quarter. Uniplan Investment Counsel Inc. now owns 108,225 shares of the company's stock valued at $4,245,000 after purchasing an additional 30,998 shares in the last quarter. 55.05% of the stock is currently owned by institutional investors and hedge funds.

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).