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

Key Points

• Short interest in Deswell (NASDAQ:DSWL) surged to 1,567 shares as of March 31, a 1,035.5% increase from March 15, leaving a days-to-cover of 0.2 days and roughly 0.0% of shares reported short.
• Hedge fund Royal Palms Capital LLC bought 460,893 shares (about $1.595M), representing roughly 2.89% of Deswell and making it the firm's 24th largest holding.
• Shares rose 6.0% to $3.35 (market cap ~$53.4M, P/E 6.98), and Weiss Ratings reaffirmed a Buy (b-) rating, with the stock's consensus rating listed as "Buy".

Deswell Industries, Inc. (NASDAQ:DSWL - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 1,567 shares, a growth of 1,035.5% from the March 15th total of 138 shares. Based on an average daily volume of 7,117 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company's stock are short sold.

Institutional Investors Weigh In On Deswell Industries

A hedge fund recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC purchased a new stake in Deswell Industries, Inc. (NASDAQ:DSWL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 holdings, making the stock its 24th biggest holding. Royal Palms Capital LLC owned approximately 2.89% of Deswell Industries as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Deswell Industries in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

Deswell Industries Stock Up 6.0%

NASDAQ DSWL traded up $0.19 on Friday, reaching $3.35. The company had a trading volume of 16,930 shares, compared to its average volume of 8,761. The stock has a market capitalization of $53.40 million, a P/E ratio of 6.98 and a beta of 0.63. The company's fifty day moving average is $3.37 and its 200 day moving average is $3.49. Deswell Industries has a 52-week low of $1.93 and a 52-week high of $4.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.