Deswell Industries, Inc. (NASDAQ:DSWL) Short Interest Up 348.8% in June

Deswell Industries, Inc. (NASDAQ:DSWL) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 552 shares, a growth of 348.8% from the May 31st total of 123 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 6,494 shares, the days-to-cover ratio is presently 0.1 days.

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) during the fourth quarter, according to its most recent disclosure 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 1.9% of Royal Palms Capital LLC’s holdings, making the stock its 24th biggest position. Royal Palms Capital LLC owned about 2.89% of Deswell Industries at the end of the most recent quarter.

Deswell Industries Trading Up 2.7%

NASDAQ DSWL traded up $0.10 on Friday, hitting $3.77. 9,395 shares of the company were exchanged, compared to its average volume of 11,674. The company has a market cap of $60.09 million, a PE ratio of 7.85 and a beta of 0.66. The stock has a fifty day moving average of $3.39 and a 200-day moving average of $3.39. Deswell Industries has a 12 month low of $2.45 and a 12 month high of $4.48.

Deswell Industries Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, July 2nd. Deswell Industries’s dividend payout ratio is 41.67%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

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.