Short Interest in Taitron Components Incorporated (NASDAQ:TAIT) Declines By 58.3%

Taitron Components Incorporated (NASDAQ:TAIT) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 500 shares, a decrease of 58.3% from the March 15th total of 1,200 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,900 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Soltis Investment Advisors LLC acquired a new position 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 at the end of the most recent quarter. 18.09% of the stock is currently owned by hedge funds and other institutional investors.

Taitron Components Price Performance

Taitron Components stock opened at $2.21 on Wednesday. The business has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.63. The company has a market capitalization of $13.31 million, a PE ratio of 9.61 and a beta of 0.38. Taitron Components has a one year low of $2.16 and a one year high of $3.21.

Taitron Components Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 9.05%. Taitron Components’s dividend payout ratio is presently 86.96%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Taitron Components in a research note on Friday, April 11th. They issued a “hold” rating on the stock.

Taitron Components Company Profile

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.