Deswell Industries, Inc. (NASDAQ:DSWL) Sees Large Decrease in Short Interest

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 3,044 shares, a decrease of 77.2% from the July 15th total of 13,367 shares. Based on an average daily volume of 10,484 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Deswell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Deswell Industries Trading Up 0.6%

NASDAQ DSWL traded up $0.02 during trading hours on Friday, reaching $3.14. 4,641 shares of the company’s stock were exchanged, compared to its average volume of 9,117. The stock has a market cap of $49.89 million, a PE ratio of 6.54 and a beta of 0.62. Deswell Industries has a one year low of $2.94 and a one year high of $4.48. The firm has a fifty day moving average of $3.45 and a 200-day moving average of $3.39.

Deswell Industries Announces Dividend

The firm also recently announced a special dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, July 2nd. Deswell Industries’s dividend payout ratio is presently 41.67%.

Institutional Inflows and Outflows

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 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 makes up approximately 1.9% of Royal Palms Capital LLC’s holdings, making the stock its 24th largest position. Royal Palms Capital LLC owned 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.