Short Interest in Taitron Components Inc. (NASDAQ:TAIT) Declines By 7.4%

Taitron Components Inc. (NASDAQ:TAIT) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 111,900 shares, a decline of 7.4% from the July 31st total of 120,800 shares. Based on an average trading volume of 55,300 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.7% of the company’s shares are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Taitron Components in the 2nd quarter worth approximately $59,000. Jane Street Group LLC acquired a new position in shares of Taitron Components in the 2nd quarter worth approximately $128,000. BlackRock Inc. lifted its position in shares of Taitron Components by 983.4% in the 2nd quarter. BlackRock Inc. now owns 8,667 shares of the company’s stock worth $28,000 after purchasing an additional 7,867 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Taitron Components by 90.2% in the 2nd quarter. Renaissance Technologies LLC now owns 286,996 shares of the company’s stock worth $918,000 after purchasing an additional 136,106 shares during the period. Hedge funds and other institutional investors own 15.35% of the company’s stock.

Separately, TheStreet lowered shares of Taitron Components from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th.

Shares of NASDAQ TAIT traded up $0.03 during midday trading on Friday, reaching $2.71. The stock had a trading volume of 9,965 shares, compared to its average volume of 31,539. The firm has a market cap of $15.19 million, a price-to-earnings ratio of 11.48 and a beta of 1.67. Taitron Components has a twelve month low of $1.48 and a twelve month high of $7.65. The company’s 50 day moving average price is $2.98 and its 200 day moving average price is $3.13.

Taitron Components (NASDAQ:TAIT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $1.77 million for the quarter. Taitron Components had a net margin of 17.96% and a return on equity of 3.25%.

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.43%.

Taitron Components Company Profile

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, passive components, transistors, and diodes.

Further Reading: Recession

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