Data I/O (NASDAQ:DAIO) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Shares of Data I/O Corporation (NASDAQ:DAIO) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.79 and traded as high as $3.43. Data I/O shares last traded at $3.30, with a volume of 51,682 shares.

Analyst Upgrades and Downgrades

Separately, Westpark Capital reaffirmed a “buy” rating and set a $5.22 price objective on shares of Data I/O in a report on Friday, July 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Data I/O has a consensus rating of “Buy” and a consensus price target of $5.22.

Data I/O Stock Down 0.9%

The firm has a market cap of $30.99 million, a price-to-earnings ratio of -11.79 and a beta of 1.04. The business has a 50 day moving average of $3.24 and a 200 day moving average of $2.79.

Data I/O (NASDAQ:DAIO) last released its earnings results on Thursday, July 24th. The electronics maker reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Data I/O had a negative return on equity of 14.60% and a negative net margin of 11.49%.The business had revenue of $5.95 million for the quarter, compared to analysts’ expectations of $5.50 million.

Hedge Funds Weigh In On Data I/O

Several large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its position in Data I/O by 11.8% during the first quarter. Essex Investment Management Co. LLC now owns 43,691 shares of the electronics maker’s stock worth $107,000 after buying an additional 4,628 shares during the period. James Investment Research Inc. lifted its position in Data I/O by 45.4% during the second quarter. James Investment Research Inc. now owns 22,402 shares of the electronics maker’s stock worth $69,000 after buying an additional 7,000 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Data I/O by 45.4% in the 2nd quarter. NewEdge Advisors LLC now owns 22,402 shares of the electronics maker’s stock worth $69,000 after purchasing an additional 7,000 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Data I/O in the 2nd quarter worth about $65,000. Finally, Penbrook Management LLC raised its holdings in shares of Data I/O by 29.8% in the 2nd quarter. Penbrook Management LLC now owns 349,750 shares of the electronics maker’s stock worth $1,084,000 after purchasing an additional 80,300 shares during the period. 36.95% of the stock is currently owned by hedge funds and other institutional investors.

About Data I/O

Data I/O Corporation, together with its subsidiaries, engages in the design, manufacture, and sale of programming and security deployment systems and services for electronic device manufacturers in the United States, Europe, and internationally. Its programming system products are used to program integrated circuits (ICs) with the specific data for the ICs.