Deswell Industries, Inc. (NASDAQ:DSWL) Shares Shorted: Short Interest Up 224.9% in September

Deswell Industries, Inc. (NASDAQ:DSWL) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 1,634 shares, an increase of 224.9% from the August 31st total of 503 shares. Based on an average daily trading volume, of 9,270 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Deswell Industries Trading Down 1.0%

DSWL stock traded down $0.03 during trading hours on Friday, hitting $3.10. 2,206 shares of the stock traded hands, compared to its average volume of 9,108. The stock has a 50-day simple moving average of $3.19 and a 200 day simple moving average of $3.30. The company has a market cap of $49.26 million, a P/E ratio of 6.46 and a beta of 0.62. Deswell Industries has a one year low of $2.84 and a one year high of $4.06.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Deswell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Deswell Industries Company Profile

Deswell Industries, Inc (NASDAQ: DSWL) is a manufacturer of plastic and electronic products for original equipment manufacturers and other commercial customers. The company’s operations include injection molding, plastic component production, product assembly, and related manufacturing services.

Its plastic products are used in a range of consumer and industrial applications, while its electronic products business produces assembled electronic devices and components. Deswell generally works with customers on contract manufacturing and provides production, assembly, and related support services.

Founded in 1987, Deswell conducts its manufacturing activities in China and serves customers in international markets, including North America, Europe, and Asia.