Taitron Components (NASDAQ:TAIT) Stock Passes Below 200 Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.46 and traded as low as $2.17. Taitron Components shares last traded at $2.20, with a volume of 4,529 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Taitron Components in a report on Wednesday, May 21st. They set a “hold” rating on the stock.

Taitron Components Price Performance

The company’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $2.46. The stock has a market capitalization of $13.24 million, a PE ratio of 9.56 and a beta of 0.37.

Taitron Components (NASDAQ:TAIT) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $1.08 million during the quarter. Taitron Components had a return on equity of 7.87% and a net margin of 30.95%.

Taitron Components Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 9.10%. The ex-dividend date was Friday, May 16th. Taitron Components’s dividend payout ratio is currently 86.96%.

Hedge Funds Weigh In On Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Soltis Investment Advisors LLC purchased a new position in Taitron Components Incorporated (NASDAQ:TAIT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned approximately 0.36% of Taitron Components at the end of the most recent quarter. Institutional investors own 18.09% of the company’s stock.

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.