Nortech Systems Incorporated (NASDAQ:NSYS) Experiences Lighter than Usual Trading Volume

0
34

(NASDAQ:NSYS) shares saw light trading volume with 378 shares changing hands on Friday. Volume was down 86.83% under the stocks average daily volume.

Investors are more bearish on shares of Nortech Systems Incorporated recently as implied by the change in short interest. The stock saw a rise in short interest of 131.49% between August 15, 2017 and August 31, 2017. Short interest increased 1,186 over that period. Days to cover decreased from 1.0 to 1.0 and the percentage of shorted shares was 0.00% on August 31.

There has been some buying insider activity on Nortech Systems Incorporated (NASDAQ:NSYS) recently. David B. Kunin, Director reported the purchase of 750 shares of NSYS stock. The shares were bought on August 21st for an average price of $3.40. Kunin now owns $104,210 of the stock per the Form 4 SEC filing.

A few notable investment firms have updated their holdings. Vanguard Group Inc bolstered its stake by buying 100 shares an increase of 0.5% as of 03/31/2017. Vanguard Group Inc owns 20,342 shares with a value of $74,000. The value of the position overall is down by 6.3%. As of the end of the quarter Acadian Asset Management LLC had sold a total of 342 shares trimming its holdings by 19.9%. The value of the investment in Nortech Systems Incorporated decreased from $6,000 to $5,000 decreasing 16.7% for the reporting period.

Panagora Asset Management Inc augmented its investment by buying 1,131 shares an increase of 24.0%. Panagora Asset Management Inc claims 5,841 shares valued at $21,000. The total value of its holdings increased 23.5%. Renaissance Technologies LLC expanded its holdings by buying 300 shares an increase of 1.4% from 03/31/2017 to 06/30/2017. Renaissance Technologies LLC now controls 21,600 shares worth $77,000. The value of the position overall is down by 1.3%.

The company is now up by 8.34%% since yesterday’s close of 3.6. Shares are trading at $3.90 which is quite a bit higher than $3.46, the stock’s 50 day moving average and quite a bit higher than the 200 day moving average of $3.52. The 50 day moving average was up $0.44 whereas the 200 day moving average was up $0.38 or +10.85%.

The most current P/E ratio is 81.25 and market capitalization is 10.71M.

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..