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

Key Points

• Short interest plunged 77.2% to 3,044 shares as of July 31, representing 0.0% of shares outstanding and just 0.3 days to cover.
• Royal Palms Capital LLC acquired 460,893 shares, worth approximately $1.6 million, giving it a 2.89% stake in Deswell Industries.
• Deswell maintained an average “Buy” rating despite Weiss Ratings slightly lowering its assessment, while the company paid a $0.20 special dividend and shares recently traded at $3.19.

Deswell Industries, Inc. (NASDAQ:DSWL - Get Free Report) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 3,044 shares, a drop of 77.2% from the July 15th total of 13,367 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 10,484 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Deswell Industries

A hedge fund recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC purchased a new position in Deswell Industries, Inc. (NASDAQ:DSWL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 460,893 shares of the technology company's stock, valued at approximately $1,595,000. Deswell Industries comprises about 1.9% of Royal Palms Capital LLC's portfolio, making the stock its 24th largest position. Royal Palms Capital LLC owned 2.89% of Deswell Industries at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered 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, Deswell Industries currently has an average rating of "Buy".

Deswell Industries Stock Performance

DSWL stock traded up $0.00 during trading on Thursday, hitting $3.19. 11,838 shares of the company traded hands, compared to its average volume of 11,564. The company has a 50-day moving average of $3.46 and a 200-day moving average of $3.40. Deswell Industries has a 1 year low of $2.94 and a 1 year high of $4.48. The firm has a market capitalization of $50.74 million, a PE ratio of 6.61 and a beta of 0.62.

Deswell Industries Announces Dividend

The company also recently announced a special dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd were issued a $0.20 dividend. The ex-dividend date was Thursday, July 2nd. Deswell Industries's dividend payout ratio (DPR) is currently 41.67%.

Deswell Industries Company Profile

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.

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