Deswell Industries, Inc. (NASDAQ:DSWL) Short Interest Up 897.3% in June

Key Points

• Short interest in Deswell Industries surged 897.3% in June, rising to 5,505 shares as of June 30 from 552 shares two weeks earlier. Even with the jump, short interest still represented just 0.1% of shares outstanding.
• Weiss Ratings upgraded the stock from “hold (c)” to “buy (b-)” on June 24, and MarketBeat says the overall consensus rating remains a “Buy.”
• The company announced a $0.20 special dividend payable on July 16, with a July 2 record date, while shares were trading around $3.56 and the stock carried a market cap of about $56.75 million.

Deswell Industries, Inc. (NASDAQ:DSWL - Get Free Report) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 5,505 shares, an increase of 897.3% from the June 15th total of 552 shares. Based on an average daily trading volume, of 24,806 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Deswell Industries from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy".

Deswell Industries Stock Performance

Shares of Deswell Industries stock opened at $3.56 on Friday. The stock has a market capitalization of $56.75 million, a P/E ratio of 7.42 and a beta of 0.61. The stock's 50-day simple moving average is $3.44 and its 200 day simple moving average is $3.41. Deswell Industries has a 52-week low of $2.75 and a 52-week high of $4.48.

Deswell Industries Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. Deswell Industries's dividend payout ratio (DPR) is 41.67%.

Institutional Investors Weigh In On Deswell Industries

An institutional investor 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) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 460,893 shares of the technology company's stock, valued at approximately $1,595,000. Deswell Industries accounts for approximately 1.9% of Royal Palms Capital LLC's portfolio, making the stock its 24th largest position. Royal Palms Capital LLC owned approximately 2.89% of Deswell Industries at the end of the most recent reporting period.

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.

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