Napco Security Technologies Inc (NASDAQ:NSSC) Sees Significant Growth in Short Interest

Napco Security Technologies Inc (NASDAQ:NSSC) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,056,800 shares, an increase of 12.1% from the May 15th total of 943,100 shares. Based on an average daily volume of 174,300 shares, the days-to-cover ratio is currently 6.1 days. Currently, 9.2% of the shares of the company are sold short.

Several hedge funds and other institutional investors have recently made changes to their positions in NSSC. EAM Global Investors LLC bought a new stake in shares of Napco Security Technologies in the 1st quarter valued at approximately $1,515,000. Ranger Investment Management L.P. grew its stake in shares of Napco Security Technologies by 12.5% in the 4th quarter. Ranger Investment Management L.P. now owns 527,778 shares of the industrial products company’s stock valued at $8,313,000 after buying an additional 58,663 shares in the last quarter. Granite Investment Partners LLC boosted its position in Napco Security Technologies by 87.8% during the first quarter. Granite Investment Partners LLC now owns 109,277 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 51,080 shares during the period. Wedge Capital Management L L P NC boosted its position in Napco Security Technologies by 104.2% during the first quarter. Wedge Capital Management L L P NC now owns 59,218 shares of the industrial products company’s stock worth $1,228,000 after purchasing an additional 30,217 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in Napco Security Technologies during the second quarter worth approximately $890,000. 39.15% of the stock is owned by institutional investors and hedge funds.

NASDAQ NSSC traded up $0.35 on Friday, hitting $26.01. 168,807 shares of the company were exchanged, compared to its average volume of 260,276. The company’s 50 day moving average price is $28.23. The company has a market cap of $474.07 million, a price-to-earnings ratio of 63.44 and a beta of 0.68. Napco Security Technologies has a twelve month low of $12.90 and a twelve month high of $34.91.

Napco Security Technologies (NASDAQ:NSSC) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.54 million. Napco Security Technologies had a return on equity of 17.34% and a net margin of 11.12%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, sell-side analysts expect that Napco Security Technologies will post 0.66 earnings per share for the current year.

Several brokerages have recently issued reports on NSSC. Lake Street Capital started coverage on shares of Napco Security Technologies in a research note on Tuesday, June 11th. They set a “buy” rating and a $35.00 price objective on the stock. Imperial Capital initiated coverage on shares of Napco Security Technologies in a research report on Friday, June 21st. They issued an “outperform” rating and a $36.00 price target on the stock. Canaccord Genuity cut shares of Iamgold from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$7.00 to C$3.75 in a research report on Tuesday, May 7th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Napco Security Technologies has an average rating of “Buy” and a consensus price target of $29.86.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc manufactures and sells security products and software worldwide. The company offers access control systems, door security products, intrusion and fire alarm systems, and video surveillance systems for commercial, residential, institutional, industrial, and governmental applications.

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