Nortech Systems Incorporated (NASDAQ:NSYS) Stock Short Interest Report for September

Nortech Systems Incorporated (NASDAQ:NSYS) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,450 shares, a drop of 62.0% from the September 15th total of 3,818 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 6,360 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Several equities research analysts have weighed in on NSYS shares. Wall Street Zen cut Nortech Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings raised Nortech Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Nortech Systems has a consensus rating of “Hold”.

Nortech Systems Stock Down 4.5%

Shares of NSYS traded down $0.50 during mid-day trading on Wednesday, hitting $10.51. The company’s stock had a trading volume of 8,468 shares, compared to its average volume of 18,005. The company’s 50-day moving average is $11.95 and its 200-day moving average is $13.52. Nortech Systems has a 52-week low of $6.50 and a 52-week high of $18.01. The firm has a market capitalization of $29.95 million, a price-to-earnings ratio of 29.20 and a beta of -0.12. The company has a current ratio of 1.78, a quick ratio of 1.10 and a debt-to-equity ratio of 0.06.

Nortech Systems (NASDAQ:NSYS) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $33.54 million for the quarter. Nortech Systems had a net margin of 0.83% and a return on equity of 3.01%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nortech Systems stock. BlackRock Inc. bought a new stake in Nortech Systems Incorporated (NASDAQ:NSYS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,456 shares of the electronics maker’s stock, valued at approximately $70,000. BlackRock Inc. owned about 0.16% of Nortech Systems at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.05% of the company’s stock.

Nortech Systems Company Profile

Nortech Systems Incorporated is an integrated design and manufacturing solutions provider headquartered in Maple Plain, Minnesota. The company develops and produces complex electromechanical systems and components for original equipment manufacturers in the medical, aerospace and defense, and industrial markets.

Nortech’s services include product development and engineering, prototyping, printed circuit board assembly, cable and wire harness manufacturing, system-level assembly, testing, and supply-chain management.