Communications Systems, Inc. (NASDAQ:JCS) Sees Significant Drop in Short Interest

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Communications Systems, Inc. (NASDAQ:JCS) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 62,700 shares, a drop of 27.4% from the June 15th total of 86,400 shares. Based on an average trading volume of 27,300 shares, the short-interest ratio is presently 2.3 days. Currently, 0.9% of the shares of the company are short sold.

A number of large investors have recently made changes to their positions in the stock. Gabelli Funds LLC increased its stake in Communications Systems by 0.9% in the first quarter. Gabelli Funds LLC now owns 307,000 shares of the communications equipment provider’s stock valued at $1,369,000 after acquiring an additional 2,800 shares during the last quarter. EAM Investors LLC grew its stake in shares of Communications Systems by 4.2% during the first quarter. EAM Investors LLC now owns 118,046 shares of the communications equipment provider’s stock worth $526,000 after buying an additional 4,717 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Communications Systems by 37.8% during the fourth quarter. Geode Capital Management LLC now owns 36,020 shares of the communications equipment provider’s stock worth $222,000 after buying an additional 9,876 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Communications Systems during the first quarter worth $60,000. Finally, Trexquant Investment LP bought a new stake in shares of Communications Systems during the fourth quarter worth $93,000. 42.77% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on JCS. Northland Securities restated a “buy” rating and set a $8.00 price objective on shares of Communications Systems in a research report on Monday, May 18th. ValuEngine upgraded shares of Communications Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 2nd. Finally, Zacks Investment Research downgraded shares of Communications Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th.

Shares of NASDAQ JCS traded up $0.19 during midday trading on Monday, reaching $5.04. The company’s stock had a trading volume of 9,600 shares, compared to its average volume of 38,431. Communications Systems has a fifty-two week low of $3.00 and a fifty-two week high of $9.90. The business’s 50 day moving average price is $5.14 and its two-hundred day moving average price is $5.61. The company has a market cap of $48.95 million, a P/E ratio of 5.93 and a beta of 1.11.

Communications Systems (NASDAQ:JCS) last announced its quarterly earnings data on Thursday, May 14th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.18. The business had revenue of $9.16 million for the quarter, compared to analysts’ expectations of $11.40 million. Communications Systems had a net margin of 13.30% and a return on equity of 10.49%. Sell-side analysts anticipate that Communications Systems will post -0.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.02 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a yield of 1.59%. Communications Systems’s dividend payout ratio (DPR) is 400.00%.

About Communications Systems

Communications Systems, Inc, through its subsidiaries, manufactures and sells connectivity infrastructure products for broadband and voice communications in North America, Europe, the Middle East, Africa, and internationally. The company's Transition Networks segment designs, assembles, and markets media converters, NIDs, network interface cards, Ethernet switches, small form factor pluggable modules, and other connectivity products under the Transition Networks brand name.

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