Short Interest in Nortech Systems Incorporated (NASDAQ:NSYS) Declines By 56.9%

Nortech Systems Incorporated (NASDAQ:NSYS) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,800 shares, a decline of 56.9% from the December 15th total of 6,500 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 6,000 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Nortech Systems

A hedge fund recently raised its stake in Nortech Systems stock. Renaissance Technologies LLC boosted its holdings in Nortech Systems Incorporated (NASDAQ:NSYS) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,799 shares of the electronics maker’s stock after purchasing an additional 3,540 shares during the quarter. Renaissance Technologies LLC owned approximately 1.95% of Nortech Systems worth $734,000 at the end of the most recent quarter. 3.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Nortech Systems in a research report on Wednesday, January 8th. They set a “hold” rating for the company.

Nortech Systems Stock Performance

Nortech Systems stock opened at $10.10 on Tuesday. The company has a market capitalization of $27.85 million, a price-to-earnings ratio of 6.52 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 2.59. The stock has a fifty day moving average of $10.73 and a two-hundred day moving average of $11.98. Nortech Systems has a fifty-two week low of $9.13 and a fifty-two week high of $19.15.

Nortech Systems Company Profile

Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services.