Short Interest in Bel Fuse Inc. (NASDAQ:BELFB) Increases By 47.3%

Bel Fuse Inc. (NASDAQ:BELFB – Get Rating) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 70,400 shares, an increase of 47.3% from the June 30th total of 47,800 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the shares of the stock are short sold.

Bel Fuse Trading Down 1.0 %

NASDAQ:BELFB opened at $24.49 on Tuesday. The stock has a market cap of $306.61 million, a PE ratio of 8.44 and a beta of 1.64. Bel Fuse has a fifty-two week low of $11.58 and a fifty-two week high of $25.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.80 and a quick ratio of 1.56. The stock’s 50-day moving average is $16.90 and its two-hundred day moving average is $16.06.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Thursday, July 14th. Bel Fuse’s dividend payout ratio is currently 9.66%.

Institutional Trading of Bel Fuse

Several institutional investors have recently made changes to their positions in BELFB. Assenagon Asset Management S.A. boosted its holdings in shares of Bel Fuse by 402.6% during the first quarter. Assenagon Asset Management S.A. now owns 151,911 shares of the electronics maker’s stock worth $2,710,000 after purchasing an additional 121,686 shares during the period. EAM Investors LLC acquired a new stake in shares of Bel Fuse during the first quarter worth approximately $1,451,000. Acadian Asset Management LLC boosted its holdings in shares of Bel Fuse by 31.0% during the fourth quarter. Acadian Asset Management LLC now owns 290,041 shares of the electronics maker’s stock worth $3,747,000 after purchasing an additional 68,584 shares during the period. Investment Management of Virginia LLC acquired a new stake in shares of Bel Fuse during the first quarter worth approximately $1,084,000. Finally, Gabelli Funds LLC boosted its holdings in shares of Bel Fuse by 159.4% during the first quarter. Gabelli Funds LLC now owns 90,791 shares of the electronics maker’s stock worth $1,620,000 after purchasing an additional 55,791 shares during the period. 49.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their target price on shares of Bel Fuse from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday.

About Bel Fuse

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Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, e-Mobility and broadcasting, and consumer electronic industries in the United States, Macao, the United Kingdom, Slovakia, Germany, Switzerland, and internationally.