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

Taitron Components Incorporated (NASDAQ:TAIT) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,100 shares, an increase of 46.4% from the August 15th total of 6,900 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 11,500 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Coulter & Justus Financial Services LLC bought a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 264,397 shares of the company’s stock, valued at approximately $851,000. Coulter & Justus Financial Services LLC owned approximately 4.39% of Taitron Components at the end of the most recent quarter. Institutional investors and hedge funds own 18.09% of the company’s stock.

Taitron Components Stock Performance

Taitron Components stock traded up $0.02 during trading on Monday, hitting $2.84. The company’s stock had a trading volume of 341 shares, compared to its average volume of 13,554. The stock’s fifty day moving average is $2.87 and its 200 day moving average is $2.97. Taitron Components has a 1-year low of $2.57 and a 1-year high of $3.73. The stock has a market capitalization of $17.10 million, a price-to-earnings ratio of 10.07 and a beta of 0.48.

Taitron Components (NASDAQ:TAIT) last announced its quarterly earnings data 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 for the quarter.

Taitron Components Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Taitron Components in a research note on Sunday. They issued a “hold” rating for the company.

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.