Trading was light with 6,749 shares changing hands on Tuesday. Volume was down 83.42% under the stocks average daily volume.
Traders are feeling more bearish on shares of the company lately as indicated by the increase in short interest. The firm experienced a rise in short interest of 336.23% between September 29, 2017 and October 13, 2017. Short interest grew from 541 to 2,360 over that timeframe. The days to cover decreased to 0.0 and the percentage of shorted shares is 0.00% as of October 13.
Nortech Systems Incorporated (NASDAQ:NSYS) has been the object of insider buying activity recently. David B. Kunin, Director bought $2,550 worth of shares at an average price of $3.40 on Mon the 21st. That brings Kunin’s holdings to $104,210 per an SEC filing yesterday.
These firms have modified their investment in NSYS. Vanguard Group Inc added to its position by buying 100 shares an increase of 0.5% from 12/31/2016 to 03/31/2017. Vanguard Group Inc claims 20,342 shares valued at $74,000. The total value of its holdings decreased 6.3%. Panagora Asset Management Inc augmented its stake by buying 1,131 shares an increase of 24.0%. Panagora Asset Management Inc currently owns 5,841 shares worth $21,000. The value of the position overall is up by 23.5%.
Renaissance Technologies LLC grew its holdings by buying 300 shares an increase of 1.4% as of 06/30/2017. Renaissance Technologies LLC owns 21,600 shares with a value of $77,000. The value of the position overall is down by 1.3%. Acadian Asset Management LLC cut its investment by shedding 121 shares a decrease of 8.8% in the quarter. Acadian Asset Management LLC now holds 1,259 shares valued at $4,000. The value of the position overall is down by 20.0%.
The company is so far trading up by 0.88% since yesterday’s close of $4.20. It is currently trading at $4.20 which is significantly higher than the 50 day moving average of $3.66 and which is well above the 200 day moving average of $3.54. The 50 day moving average moved up $0.54 and the 200 day average went up $0.66 or +18.48%.
Nortech Systems Incorporated’s P/E ratio is 87.50 and market capitalization is 11.54M.
Nortech Systems Incorporated, launched on October 31, 1990, is an electronic manufacturing services (EMS) company. The Company offers a range of value-added engineering, technical and manufacturing services and support, including project management, design, testing, prototyping, manufacturing, supply chain management and post-market services. The Company operates in the Contract Manufacturing segment. The Business’s manufacturing and engineering services include medical devices, printed circuit board assemblies, wire and cable assemblies, and electromechanical assemblies..Advertisement