Short Interest in Deswell Industries, Inc. (NASDAQ:DSWL) Drops By 97.1%

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 123 shares, a drop of 97.1% from the May 14th total of 4,210 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 10,497 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

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 data from MarketBeat.com, Deswell Industries has a consensus rating of “Hold”.

Deswell Industries Trading Up 0.9%

Deswell Industries stock traded up $0.03 during mid-day trading on Tuesday, hitting $3.26. The stock had a trading volume of 6,882 shares, compared to its average volume of 7,413. Deswell Industries has a 12 month low of $2.26 and a 12 month high of $4.48. The stock has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $3.40. The stock has a market capitalization of $51.96 million, a PE ratio of 6.79 and a beta of 0.66.

Hedge Funds Weigh In On Deswell Industries

A hedge fund recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC bought a new stake in Deswell Industries, Inc. (NASDAQ:DSWL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries accounts for about 1.9% of Royal Palms Capital LLC’s holdings, making the stock its 24th biggest position. Royal Palms Capital LLC owned 2.89% of Deswell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

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.