Richardson Electronics, Ltd. (NASDAQ:RELL) Sees Large Increase in Short Interest

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Richardson Electronics, Ltd. (NASDAQ:RELL) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 17,000 shares, a growth of 63.5% from the May 30th total of 10,400 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 26,100 shares, the days-to-cover ratio is presently 0.7 days.

Shares of RELL stock remained flat at $$5.52 on Friday. The company had a trading volume of 21,003 shares, compared to its average volume of 22,544. The stock has a market cap of $72.05 million, a price-to-earnings ratio of 55.20 and a beta of 0.37. Richardson Electronics has a 52-week low of $5.00 and a 52-week high of $10.40. The company’s 50-day moving average price is $5.32.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Tuesday, April 9th. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.10). The company had revenue of $39.02 million for the quarter. Richardson Electronics had a return on equity of 0.97% and a net margin of 0.46%.

Several large investors have recently added to or reduced their stakes in the company. First Wilshire Securities Management Inc. acquired a new stake in shares of Richardson Electronics in the 4th quarter valued at about $440,000. Granite Investment Partners LLC purchased a new stake in Richardson Electronics during the 1st quarter valued at approximately $332,000. Alambic Investment Management L.P. purchased a new stake in Richardson Electronics during the 1st quarter valued at approximately $239,000. Dimensional Fund Advisors LP raised its stake in Richardson Electronics by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 917,982 shares of the technology company’s stock valued at $7,977,000 after acquiring an additional 7,248 shares during the last quarter. Finally, Ancora Advisors LLC raised its stake in Richardson Electronics by 2.3% during the 4th quarter. Ancora Advisors LLC now owns 227,692 shares of the technology company’s stock valued at $1,979,000 after acquiring an additional 5,030 shares during the last quarter. 44.35% of the stock is owned by institutional investors and hedge funds.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. engages in power and microwave technologies, customized display solutions, and healthcare equipment businesses in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; high value flat panel detector solutions, replacement parts, tubes and service training for diagnostic imaging equipment; and customized display solutions, as well as power conversion and RF and microwave components for broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology applications.

See Also: Balance Sheet

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