Bel Fuse (NASDAQ:BELFA) Trading Down 6.4% – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFA) shares fell 6.4% on Monday . The company traded as low as $226.00 and last traded at $226.00. Approximately 2,080 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 104,853 shares. The stock had previously closed at $241.33.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BELFA shares. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Citigroup assumed coverage on shares of Bel Fuse in a research note on Monday, July 13th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $250.00.

Bel Fuse Trading Down 7.0%

The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 50.59 and a beta of 1.37. The firm’s 50-day moving average is $245.26 and its 200 day moving average is $220.68.

Bel Fuse (NASDAQ:BELFA) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. Bel Fuse had a net margin of 7.84% and a return on equity of 22.38%. The firm had revenue of $178.49 million during the quarter, compared to the consensus estimate of $172.07 million.

Institutional Investors Weigh In On Bel Fuse

Institutional investors have recently made changes to their positions in the stock. Hound Partners LLC bought a new position in shares of Bel Fuse during the fourth quarter worth about $5,714,000. Renaissance Technologies LLC boosted its holdings in Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock valued at $12,299,000 after acquiring an additional 26,200 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Bel Fuse during the 3rd quarter valued at approximately $1,628,000. Citadel Advisors LLC increased its position in Bel Fuse by 434.9% during the 3rd quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company’s stock valued at $1,552,000 after purchasing an additional 10,843 shares during the period. Finally, Millennium Management LLC raised its holdings in Bel Fuse by 314.2% during the 4th quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company’s stock worth $1,932,000 after purchasing an additional 9,656 shares during the last quarter. Institutional investors own 6.01% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.