Short Interest in Deswell Industries, Inc. (NASDAQ:DSWL) Drops By 97.1%
by Danessa Lincoln · The Markets DailyDeswell Industries, Inc. (NASDAQ:DSWL – Get Free Report) saw a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 123 shares, a decrease of 97.1% from the May 14th total of 4,210 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 10,497 shares, the short-interest ratio is currently 0.0 days.
Hedge Funds Weigh In On Deswell Industries
An institutional investor recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC purchased a new stake in Deswell Industries, Inc. (NASDAQ:DSWL – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th largest holding. Royal Palms Capital LLC owned 2.89% of Deswell Industries at the end of the most recent quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut Deswell Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.
Read Our Latest Analysis on DSWL
Deswell Industries Price Performance
Shares of DSWL stock traded up $0.03 during trading hours on Tuesday, hitting $3.26. 6,882 shares of the company’s stock were exchanged, compared to its average volume of 7,413. The stock’s 50-day moving average is $3.29 and its 200-day moving average is $3.40. The stock has a market cap of $51.96 million, a price-to-earnings ratio of 6.79 and a beta of 0.66. Deswell Industries has a 52 week low of $2.26 and a 52 week high of $4.48.
Deswell Industries Company Profile
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.