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

Taitron Components Incorporated (NASDAQ:TAIT) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,100 shares, a drop of 58.0% from the February 13th total of 5,000 shares. Based on an average trading volume of 10,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Taitron Components Stock Performance

TAIT stock traded down $0.02 during mid-day trading on Friday, hitting $2.50. The company had a trading volume of 3,387 shares, compared to its average volume of 7,677. The firm has a market cap of $15.05 million, a PE ratio of 10.87 and a beta of 0.43. Taitron Components has a 12 month low of $2.48 and a 12 month high of $3.30. The stock’s fifty day moving average price is $2.59 and its two-hundred day moving average price is $2.72.

Taitron Components Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.20 annualized dividend and a yield of 8.00%. Taitron Components’s payout ratio is 86.96%.

Institutional Trading of Taitron Components

An institutional investor recently bought a new position in Taitron Components stock. Soltis Investment Advisors LLC acquired a new stake in shares of Taitron Components Incorporated (NASDAQ:TAIT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned about 0.36% of Taitron Components as of its most recent SEC filing. 18.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Taitron Components in a research note on Monday, March 10th. 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.