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

Napco Security Technologies Inc (NASDAQ:NSSC) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,170,100 shares, a growth of 10.7% from the May 30th total of 1,056,800 shares. Currently, 10.2% of the company’s shares are short sold. Based on an average daily volume of 205,500 shares, the short-interest ratio is currently 5.7 days.

Napco Security Technologies stock opened at $26.65 on Tuesday. Napco Security Technologies has a fifty-two week low of $12.90 and a fifty-two week high of $34.91. The firm has a 50 day moving average of $28.34. The firm has a market cap of $482.01 million, a P/E ratio of 65.00 and a beta of 0.68.

Napco Security Technologies (NASDAQ:NSSC) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Napco Security Technologies had a net margin of 11.12% and a return on equity of 17.34%. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.54 million. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that Napco Security Technologies will post 0.66 EPS for the current year.

NSSC has been the subject of several research reports. Canaccord Genuity downgraded shares of Iamgold from a “buy” rating to a “hold” rating and dropped their target price for the company from C$7.00 to C$3.75 in a report on Tuesday, May 7th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Imperial Capital initiated coverage on shares of Napco Security Technologies in a report on Friday, June 21st. They issued an “outperform” rating and a $36.00 target price for the company. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Finally, Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a 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 stock. The stock has an average rating of “Buy” and a consensus target price of $29.86.

Hedge funds have recently modified their holdings of the business. Denali Advisors LLC boosted its position in Napco Security Technologies by 581.5% in the 2nd quarter. Denali Advisors LLC now owns 1,070 shares of the industrial products company’s stock valued at $32,000 after buying an additional 913 shares during the period. BNP Paribas Arbitrage SA boosted its position in Napco Security Technologies by 62,175.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,491 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,487 shares during the period. Metropolitan Life Insurance Co NY purchased a new position in Napco Security Technologies in the 1st quarter valued at approximately $84,000. Nkcfo LLC purchased a new position in Napco Security Technologies in the 1st quarter valued at approximately $104,000. Finally, Bank of America Corp DE boosted its position in Napco Security Technologies by 94.9% in the 4th quarter. Bank of America Corp DE now owns 7,422 shares of the industrial products company’s stock valued at $117,000 after buying an additional 3,614 shares during the period. 39.15% of the stock is owned by institutional investors.

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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