BK Technologies Co. (NYSEAMERICAN:BKTI) Sees Large Decline in Short Interest

BK Technologies Co. (NYSEAMERICAN:BKTI) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 10,000 shares, a drop of 23.1% from the October 15th total of 13,000 shares. Based on an average daily volume of 44,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the company’s stock are short sold.

BK Technologies Price Performance

BKTI stock opened at $31.69 on Friday. The company has a market capitalization of $112.18 million, a PE ratio of 41.16 and a beta of 1.18. BK Technologies has a 12-month low of $11.06 and a 12-month high of $33.45.

Insider Activity

In other news, Director Joshua Horowitz acquired 3,330 shares of BK Technologies stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $19.86 per share, with a total value of $66,133.80. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $1,787,400. This trade represents a 3.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bard Associates Inc. boosted its holdings in shares of BK Technologies by 0.6% in the 3rd quarter. Bard Associates Inc. now owns 143,448 shares of the company’s stock worth $3,123,000 after buying an additional 871 shares during the last quarter. Renaissance Technologies LLC raised its position in BK Technologies by 52.5% in the second quarter. Renaissance Technologies LLC now owns 141,816 shares of the company’s stock worth $1,815,000 after acquiring an additional 48,838 shares during the period. Dimensional Fund Advisors LP boosted its stake in BK Technologies by 19.4% in the second quarter. Dimensional Fund Advisors LP now owns 54,086 shares of the company’s stock valued at $692,000 after acquiring an additional 8,798 shares during the last quarter. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 10,431 shares during the period. Institutional investors own 55.05% of the company’s stock.

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).