Short Interest in Taitron Components Incorporated (NASDAQ:TAIT) Drops By 66.7%

Taitron Components Incorporated (NASDAQ:TAIT) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,000 shares, a decline of 66.7% from the September 15th total of 9,000 shares. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Taitron Components Price Performance

Shares of Taitron Components stock traded down $0.03 during trading hours on Thursday, reaching $2.89. The company had a trading volume of 523 shares, compared to its average volume of 13,000. The firm has a market cap of $17.40 million, a PE ratio of 10.43 and a beta of 0.48. Taitron Components has a one year low of $2.57 and a one year high of $3.73. The business has a fifty day simple moving average of $2.88 and a 200 day simple moving average of $2.94.

Taitron Components (NASDAQ:TAIT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $1.22 million for the quarter. Taitron Components had a net margin of 32.00% and a return on equity of 8.87%.

Taitron Components Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 6.92%. Taitron Components’s payout ratio is currently 71.43%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Taitron Components in a research report on Wednesday. They set a “hold” rating for the company.

Institutional Investors Weigh In On Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Coulter & Justus Financial Services LLC purchased a new stake in shares of Taitron Components Incorporated (NASDAQ:TAIT) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 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 at the end of the most recent quarter. Institutional investors own 18.09% of the company’s stock.

About Taitron Components

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.