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

BK Technologies Co. (NYSEAMERICAN:BKTI) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 11,800 shares, a growth of 84.4% from the January 15th total of 6,400 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 30,800 shares, the short-interest ratio is currently 0.4 days.

BK Technologies Stock Up 9.0 %

NYSEAMERICAN:BKTI traded up $2.61 during trading hours on Friday, reaching $31.58. 17,530 shares of the company were exchanged, compared to its average volume of 26,557. BK Technologies has a 52-week low of $11.10 and a 52-week high of $38.70. The company has a market cap of $112.42 million, a P/E ratio of 23.05 and a beta of 1.22.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital assumed coverage on BK Technologies in a research note on Friday. They issued a “buy” rating and a $40.00 target price on the stock.

Insider Buying and Selling

In other BK Technologies news, Director Charles T. Lanktree sold 992 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $35.00, for a total value of $34,720.00. Following the completion of the transaction, the director now directly owns 549 shares of the company’s stock, valued at approximately $19,215. This trade represents a 64.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.48% of the stock is currently owned by corporate insiders.

Institutional Trading of BK Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of BKTI. Bard Associates Inc. raised its position in BK Technologies by 0.6% in the third quarter. Bard Associates Inc. now owns 143,448 shares of the company’s stock valued at $3,123,000 after purchasing an additional 871 shares during the period. Geode Capital Management LLC raised its holdings in shares of BK Technologies by 52.7% during the 3rd quarter. Geode Capital Management LLC now owns 30,224 shares of the company’s stock valued at $658,000 after buying an additional 10,431 shares during the period. JPMorgan Chase & Co. lifted its position in BK Technologies by 64,342.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,511 shares of the company’s stock worth $98,000 after acquiring an additional 4,504 shares in the last quarter. Ritholtz Wealth Management acquired a new position in BK Technologies during the 4th quarter worth approximately $488,000. Finally, IFP Advisors Inc purchased a new position in BK Technologies in the 4th quarter worth approximately $99,000. Institutional investors and hedge funds 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).