Short Interest in Taitron Components Incorporated (NASDAQ:TAIT) Drops By 42.9%

Taitron Components Incorporated (NASDAQ:TAIT) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,200 shares, a decline of 42.9% from the February 28th total of 2,100 shares. Based on an average daily volume of 8,800 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Taitron Components Price Performance

Shares of NASDAQ TAIT opened at $2.58 on Friday. The business has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $2.69. The stock has a market capitalization of $15.53 million, a PE ratio of 11.22 and a beta of 0.43. Taitron Components has a fifty-two week low of $2.48 and a fifty-two week high of $3.30.

Taitron Components Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.05 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.75%. Taitron Components’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Taitron Components in a research report on Wednesday. They issued a “hold” rating on the stock.

Institutional Trading of Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Soltis Investment Advisors LLC bought a new stake in shares of Taitron Components Incorporated (NASDAQ:TAIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned 0.36% of Taitron Components as of its most recent filing with the Securities and Exchange Commission. 18.09% of the stock is owned by hedge funds and other institutional investors.

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.