Taitron Components Incorporated (NASDAQ:TAIT) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Taitron Components Incorporated (NASDAQ:TAIT – Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 3,600 shares, a growth of 20.0% from the September 30th total of 3,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 8,900 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Taitron Components in a report on Friday. They issued a “hold” rating for the company.

Get Our Latest Stock Report on TAIT

Taitron Components Trading Up 1.4 %

Shares of NASDAQ:TAIT traded up $0.04 during trading on Monday, hitting $2.84. 8,405 shares of the company were exchanged, compared to its average volume of 12,638. Taitron Components has a fifty-two week low of $2.57 and a fifty-two week high of $3.61. The stock has a market cap of $17.10 million, a price-to-earnings ratio of 10.14 and a beta of 0.48. The firm has a fifty day moving average price of $2.88 and a two-hundred day moving average price of $2.90.

Taitron Components (NASDAQ:TAIT – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported $0.07 earnings per share for the quarter. Taitron Components had a net margin of 32.00% and a return on equity of 8.87%. The business had revenue of $1.22 million during the quarter.

Taitron Components Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.05 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.04%. Taitron Components’s payout ratio is 71.43%.

Hedge Funds Weigh In On Taitron Components

An institutional investor recently bought a new position in Taitron Components stock. Coulter & Justus Financial Services LLC acquired a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 264,397 shares of the company’s stock, valued at approximately $851,000. Coulter & Justus Financial Services LLC owned about 4.39% of Taitron Components as of its most recent SEC filing. 18.09% of the stock is owned by institutional investors and hedge funds.

Taitron Components Company Profile

(Get Free Report)

Taitron Components Incorporated engages in the supply of original designed and manufactured (ODM) electronic components, and distribution of brand name electronic components. It distributes discrete semiconductors, commodity integrated circuits, optoelectronic devices, and passive components. The company also offers value-added engineering and turn-key solutions focusing on providing contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs) with ODM products for their turn-key projects.

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