Deswell Industries (NASDAQ:DSWL) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Deswell Industries, Inc. (NASDAQ:DSWL)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.59 and traded as high as $3.68. Deswell Industries shares last traded at $3.60, with a volume of 7,248 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Deswell Industries in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Deswell Industries Stock Down 0.3%

The firm has a market cap of $57.38 million, a P/E ratio of 7.50 and a beta of 0.57. The firm’s 50-day simple moving average is $3.46 and its 200 day simple moving average is $3.59.

Institutional Trading of Deswell Industries

A hedge fund recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC purchased a new position in shares of Deswell Industries, Inc. (NASDAQ:DSWL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries accounts for approximately 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC owned approximately 2.89% of Deswell Industries at the end of the most recent quarter.

About Deswell Industries

Deswell Industries, Inc (NASDAQ: DSWL) is a China-based medical device company that designs, develops, manufactures and distributes airway management and respiratory care products. The company’s product portfolio includes laryngeal mask airways, disposable endotracheal tubes, nebulizers, oxygen therapy equipment, humidifiers and related ventilator accessories. Deswell’s devices are used in hospitals, clinics and home-care settings to support anesthesia, emergency medicine and respiratory treatment.

Founded in 2003 and headquartered in Shenzhen, Deswell operates multiple manufacturing facilities that comply with international quality standards, including FDA 510(k) clearances and CE markings for many of its devices.