Nortech Systems Incorporated (NASDAQ:NSYS) Short Interest Down 56.9% in January

Nortech Systems Incorporated (NASDAQ:NSYS) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,800 shares, a drop of 56.9% from the December 31st total of 6,500 shares. Based on an average daily trading volume, of 6,000 shares, the short-interest ratio is currently 0.5 days. Currently, 0.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Nortech Systems in a report on Friday, January 24th. They issued a “hold” rating for the company.

Nortech Systems Stock Performance

Shares of Nortech Systems stock traded down $0.22 during trading on Friday, hitting $10.17. 214 shares of the company’s stock were exchanged, compared to its average volume of 9,935. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.59. The business has a 50-day simple moving average of $10.69 and a 200-day simple moving average of $11.72. Nortech Systems has a 52-week low of $9.53 and a 52-week high of $19.15. The stock has a market capitalization of $28.06 million, a price-to-earnings ratio of 6.56 and a beta of 0.47.

Nortech Systems (NASDAQ:NSYS) last issued its earnings results on Thursday, November 7th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter. Nortech Systems had a return on equity of 12.76% and a net margin of 3.35%. The business had revenue of $31.41 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nortech Systems stock. Dimensional Fund Advisors LP acquired a new stake in Nortech Systems Incorporated (NASDAQ:NSYS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,868 shares of the electronics maker’s stock, valued at approximately $148,000. Dimensional Fund Advisors LP owned approximately 0.39% of Nortech Systems as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 3.05% of the company’s stock.

About Nortech Systems

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.