Bk Technologies (NYSEAMERICAN:BKTI) Trading Up 3.5% – Here’s Why

Shares of Bk Technologies, Inc. (NYSEAMERICAN:BKTI) were up 3.5% during trading on Thursday . The company traded as high as $70.70 and last traded at $70.70. Approximately 74,862 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 87,022 shares. The stock had previously closed at $68.32.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised their price target on Bk Technologies from $55.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $74.00.

Bk Technologies Trading Up 3.5%

The firm has a fifty day simple moving average of $50.47. The company has a market capitalization of $263.71 million, a PE ratio of 23.03 and a beta of 0.43.

Hedge Funds Weigh In On Bk Technologies

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Bk Technologies in the second quarter worth $25,000. Bank of America Corp DE lifted its holdings in shares of Bk Technologies by 23.8% in the second quarter. Bank of America Corp DE now owns 1,323 shares of the company’s stock worth $62,000 after buying an additional 254 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Bk Technologies in the second quarter valued at $938,000. Raymond James Financial Inc. purchased a new position in shares of Bk Technologies in the second quarter valued at $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bk Technologies in the second quarter valued at $70,000. Hedge funds and other 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).