Informed Momentum Co LLC Sells 9,318 Shares of Bk Technologies, Inc. (NYSEAMERICAN:BKTI)

Key Points

• Informed Momentum Co LLC reduced its holdings in Bk Technologies, Inc. by 35.8%, owning 16,679 shares after selling 9,318 shares in the first quarter.
• Several hedge funds substantially increased their stakes in Bk Technologies, with notable increases from Bank of America (up 3,882.6%) and Lazard Asset Management (up 2,988.0%) during the fourth quarter.
• Bk Technologies' stock has recently experienced a 4.1% increase, with analysts from Lake Street Capital raising their price target from $51 to $55 while maintaining a "buy" rating.

Informed Momentum Co LLC lessened its holdings in shares of Bk Technologies, Inc. (NYSEAMERICAN:BKTI - Free Report) by 35.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,679 shares of the company's stock after selling 9,318 shares during the quarter. Informed Momentum Co LLC owned approximately 0.47% of Bk Technologies worth $654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 893 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Bk Technologies by 2,988.0% in the fourth quarter. Lazard Asset Management LLC now owns 1,544 shares of the company's stock valued at $52,000 after buying an additional 1,494 shares during the period. Barclays PLC bought a new stake in shares of Bk Technologies in the fourth quarter valued at approximately $60,000. JPMorgan Chase & Co. boosted its stake in shares of Bk Technologies by 30.6% in the fourth quarter. JPMorgan Chase & Co. now owns 5,891 shares of the company's stock valued at $202,000 after buying an additional 1,380 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Bk Technologies in the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds own 55.05% of the company's stock.

Bk Technologies Trading Up 5.3%

BKTI stock traded up $3.31 during mid-day trading on Friday, reaching $65.28. 164,514 shares of the company traded hands, compared to its average volume of 67,026. The firm has a market cap of $239.58 million, a PE ratio of 21.26 and a beta of 0.34. Bk Technologies, Inc. has a fifty-two week low of $16.66 and a fifty-two week high of $66.24. The company has a 50 day simple moving average of $44.64.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on Bk Technologies from $55.00 to $74.00 and gave the company a "buy" rating in a research note on Friday.

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).