Taitron Components Incorporated (NASDAQ:TAIT) Sees Large Decline in Short Interest

Taitron Components Incorporated (NASDAQ:TAIT) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,800 shares, a decrease of 22.2% from the October 15th total of 3,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is currently 0.4 days.

Taitron Components Stock Down 2.3 %

Taitron Components stock traded down $0.07 during mid-day trading on Friday, reaching $2.79. The company had a trading volume of 4,990 shares, compared to its average volume of 12,538. Taitron Components has a 52 week low of $2.57 and a 52 week high of $3.61. The company has a 50 day moving average of $2.86 and a 200-day moving average of $2.88. The firm has a market cap of $16.77 million, a price-to-earnings ratio of 10.71 and a beta of 0.49.

Taitron Components (NASDAQ:TAIT) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.07 EPS for the quarter. The company had revenue of $1.22 million during the quarter. Taitron Components had a net margin of 32.00% and a return on equity of 8.87%.

Taitron Components Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date is Friday, November 15th. Taitron Components’s dividend payout ratio (DPR) is currently 76.93%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Taitron Components in a research note on Sunday, November 10th. They issued a “hold” rating on the 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.