SemiLEDs Co. (NASDAQ:LEDS) Sees Large Drop in Short Interest

SemiLEDs Co. (NASDAQ:LEDS) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 55,800 shares, a drop of 35.9% from the March 15th total of 87,100 shares. Based on an average daily trading volume, of 221,300 shares, the short-interest ratio is currently 0.3 days. Approximately 2.4% of the shares of the company are short sold.

SemiLEDs Stock Performance

NASDAQ:LEDS remained flat at $2.02 during mid-day trading on Thursday. 22,081 shares of the company traded hands, compared to its average volume of 130,818. The firm has a market cap of $14.57 million, a P/E ratio of -6.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.77 and a quick ratio of 0.25. SemiLEDs has a 52-week low of $0.92 and a 52-week high of $2.94. The company has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $1.54.

SemiLEDs (NASDAQ:LEDS) last released its quarterly earnings data on Thursday, April 10th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter. SemiLEDs had a negative return on equity of 81.97% and a negative net margin of 41.41%. The firm had revenue of $10.87 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on SemiLEDs in a research note on Saturday, April 12th. They issued a “sell” rating for the company.

Institutional Trading of SemiLEDs

An institutional investor recently bought a new position in SemiLEDs stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of SemiLEDs Co. (NASDAQ:LEDS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 377,201 shares of the semiconductor company’s stock, valued at approximately $443,000. Garden State Investment Advisory Services LLC owned approximately 5.23% of SemiLEDs at the end of the most recent reporting period. Institutional investors own 76.29% of the company’s stock.

About SemiLEDs

SemiLEDs Corporation develops, manufactures, and sells light emitting diode (LED) chips, LED components, and LED modules and systems in the United States, Taiwan, the Netherlands, Germany, Japan, and internationally. The company also sells enhanced vertical, LED product series in blue, white, green, and UV; LED chips to packagers or distributors; and lighting products primarily to original design manufacturers of lighting products and the end-users of lighting devices, as well as packs and sells its LED chips.