Data I/O Corporation (NASDAQ:DAIO) Shares Shorted: Short Interest Down 55.1% in October

Data I/O Corporation (NASDAQ:DAIO) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 7,033 shares, a decrease of 55.1% from the September 30th total of 15,678 shares. Based on an average daily trading volume, of 23,986 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Data I/O Stock Down 2.5%

Shares of NASDAQ:DAIO traded down $0.06 during trading on Friday, hitting $2.36. 12,949 shares of the company traded hands, compared to its average volume of 29,564. The stock has a market capitalization of $24.54 million, a price-to-earnings ratio of -2.54 and a beta of 1.43. The business’s fifty day moving average is $2.78 and its 200-day moving average is $2.99. Data I/O has a one year low of $2.16 and a one year high of $4.49.

Data I/O (NASDAQ:DAIO) last announced its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Data I/O had a negative return on equity of 66.83% and a negative net margin of 48.73%. The company had revenue of $5.15 million during the quarter. On average, analysts forecast that Data I/O will post -0.30 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DAIO shares. LADENBURG THALM/SH SH raised shares of Data I/O to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Data I/O in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Data I/O presently has an average rating of “Hold” and a consensus target price of $5.00.

Insider Buying and Selling

In other news, major shareholder Red Oak Partners, Llc bought 373,133 shares of Data I/O stock in a transaction on Tuesday, October 20th. The shares were bought at an average price of $2.68 per share, with a total value of $999,996.44. Following the acquisition, the insider directly owned 242,934 shares in the company, valued at approximately $651,063.12. This represents a -286.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Data I/O

An institutional investor recently raised its stake in Data I/O stock. Susquehanna International Group LLP increased its position in Data I/O Corporation (NASDAQ:DAIO) by 80.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,548 shares of the electronics maker’s stock after acquiring an additional 21,711 shares during the period. Susquehanna International Group LLP owned approximately 0.52% of Data I/O worth $191,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 36.95% of the company’s stock.

About Data I/O

Data I/O Corporation (NASDAQ:DAIO) develops and supplies automated programming and security-provisioning systems for electronic devices. Its equipment is used to load software, firmware and other data into semiconductor devices such as flash memory, microcontrollers and programmable logic devices during electronics manufacturing.

The company’s product portfolio includes automated device-programming systems, programming engines, software and related accessories. Its offerings are designed to support high-volume production, improve programming accuracy and help manufacturers manage device security, including the provisioning of keys and other credentials used in connected and embedded products.

Data I/O serves manufacturers and contract manufacturers in industries including automotive electronics, consumer electronics, industrial equipment, telecommunications and other embedded-technology markets.