Deswell Industries, Inc. (NASDAQ:DSWL) Short Interest Update

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 5,505 shares, a growth of 897.3% from the June 15th total of 552 shares. Based on an average daily volume of 24,806 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Deswell Industries

A hedge fund recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC bought a new stake in shares of 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. The fund bought 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises approximately 1.9% of Royal Palms Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC owned 2.89% of Deswell Industries at the end of the most recent quarter.

Deswell Industries Price Performance

Deswell Industries stock opened at $3.56 on Monday. The company’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.41. The company has a market cap of $56.75 million, a PE ratio of 7.42 and a beta of 0.61. Deswell Industries has a twelve month low of $2.75 and a twelve month high of $4.48.

Deswell Industries Dividend Announcement

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

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Deswell Industries presently has a consensus 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.