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

Deswell Industries, Inc. (NASDAQ:DSWL) saw a significant growth in short interest in the month of 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 short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Deswell Industries Price Performance

Shares of NASDAQ:DSWL traded up $0.15 during midday trading on Friday, reaching $3.56. 32,683 shares of the company’s stock were exchanged, compared to its average volume of 21,770. The firm’s 50 day simple moving average is $3.44 and its two-hundred day simple moving average is $3.41. The stock has a market cap of $56.75 million, a price-to-earnings ratio of 7.42 and a beta of 0.61. Deswell Industries has a fifty-two week low of $2.75 and a fifty-two week high of $4.48.

Deswell Industries Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.20 per share. 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 acquired a new position in shares of Deswell Industries, Inc. (NASDAQ:DSWL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 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 investment 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.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average 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.