Park Electrochemical Corp. (NYSE:PKE) Short Interest Update

Park Electrochemical Corp. (NYSE:PKE) saw a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 734,100 shares, a decline of 7.2% from the November 14th total of 790,900 shares. Based on an average daily volume of 97,800 shares, the days-to-cover ratio is currently 7.5 days. Currently, 3.8% of the shares of the company are sold short.

PKE stock traded down $0.06 during midday trading on Friday, reaching $16.32. 68,891 shares of the company’s stock traded hands, compared to its average volume of 77,005. The company has a 50-day moving average price of $16.65 and a two-hundred day moving average price of $16.83. Park Electrochemical has a 52 week low of $14.88 and a 52 week high of $23.30. The firm has a market capitalization of $336.08 million, a PE ratio of 32.12 and a beta of 1.05.

Park Electrochemical (NYSE:PKE) last issued its earnings results on Thursday, October 10th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter. Park Electrochemical had a net margin of 193.18% and a return on equity of 6.72%. The business had revenue of $13.72 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 4th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%.

Separately, ValuEngine raised shares of Park Electrochemical from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Hedge funds have recently modified their holdings of the business. Morgan Stanley raised its holdings in Park Electrochemical by 140.2% during the 2nd quarter. Morgan Stanley now owns 109,961 shares of the semiconductor company’s stock valued at $1,835,000 after acquiring an additional 64,180 shares during the period. State of Tennessee Treasury Department raised its holdings in Park Electrochemical by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 9,070 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 713 shares during the period. Renaissance Technologies LLC raised its holdings in Park Electrochemical by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,634,500 shares of the semiconductor company’s stock valued at $27,280,000 after acquiring an additional 83,900 shares during the period. Heartland Advisors Inc. raised its holdings in Park Electrochemical by 5.0% during the 2nd quarter. Heartland Advisors Inc. now owns 725,442 shares of the semiconductor company’s stock valued at $12,108,000 after acquiring an additional 34,330 shares during the period. Finally, Bank of America Corp DE raised its holdings in Park Electrochemical by 60.1% during the 2nd quarter. Bank of America Corp DE now owns 40,201 shares of the semiconductor company’s stock valued at $670,000 after acquiring an additional 15,084 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.

About Park Electrochemical

Park Electrochemical Corp., through its subsidiaries, develops, manufactures, markets, and sells high-technology digital and radio frequency/microwave printed circuit material products primarily for the telecommunications and Internet infrastructure, enterprise, and military/aerospace markets. It also designs, develops, and manufactures advanced composite materials, primary and secondary structures and assemblies, and low-volume tooling products for the aerospace markets.

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