Short Interest in Napco Security Technologies Inc (NASDAQ:NSSC) Rises By 10.8%

Napco Security Technologies Inc (NASDAQ:NSSC) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,167,000 shares, an increase of 10.8% from the June 30th total of 1,052,900 shares. Approximately 10.2% of the shares of the company are short sold. Based on an average daily volume of 200,500 shares, the short-interest ratio is currently 5.8 days.

Several research firms have recently issued reports on NSSC. Lake Street Capital began coverage on shares of Napco Security Technologies in a report on Tuesday, June 11th. They issued a “buy” rating and a $35.00 price objective for the company. Imperial Capital began coverage on shares of Napco Security Technologies in a report on Friday, June 21st. They issued an “outperform” rating and a $36.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and set a $32.00 target price (up from $24.00) on shares of Napco Security Technologies in a research note on Tuesday, May 7th. BidaskClub raised shares of Napco Security Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, ValuEngine lowered shares of Napco Security Technologies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.86.

A number of hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its holdings in Napco Security Technologies by 581.5% during the 2nd quarter. Denali Advisors LLC now owns 1,070 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 913 shares during the last quarter. Bank of Montreal Can lifted its holdings in Napco Security Technologies by 249.5% during the 2nd quarter. Bank of Montreal Can now owns 1,552 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,108 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Napco Security Technologies by 62,175.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,491 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 2,487 shares during the last quarter. Advantage Investment Management LLC lifted its holdings in Napco Security Technologies by 24.9% during the 2nd quarter. Advantage Investment Management LLC now owns 2,845 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 568 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in Napco Security Technologies by 427.8% during the 2nd quarter. Advisor Group Inc. now owns 3,167 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 2,567 shares during the last quarter. 39.85% of the stock is owned by institutional investors and hedge funds.

NSSC stock traded up $0.39 on Friday, hitting $31.50. 56,210 shares of the company’s stock traded hands, compared to its average volume of 156,516. Napco Security Technologies has a 1-year low of $12.90 and a 1-year high of $34.91. The stock has a market cap of $583.78 million, a price-to-earnings ratio of 76.83 and a beta of 0.64. The stock has a fifty day moving average of $27.69 and a 200-day moving average of $24.85.

About Napco Security Technologies

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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