Taitron Components (NASDAQ:TAIT) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Taitron Components Incorporated (NASDAQ:TAIT)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.94 and traded as low as $1.70. Taitron Components shares last traded at $1.73, with a volume of 27,412 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Taitron Components in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Taitron Components currently has a consensus rating of “Sell”.

Taitron Components Stock Up 1.8%

The stock’s 50-day moving average is $1.30 and its 200 day moving average is $1.94. The stock has a market capitalization of $10.42 million, a PE ratio of -10.81 and a beta of 0.43.

Taitron Components (NASDAQ:TAIT) last released its earnings results on Friday, November 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $0.53 million during the quarter. Taitron Components had a negative return on equity of 6.18% and a negative net margin of 27.42%.

Institutional Trading of Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Susquehanna International Group LLP bought a new position in Taitron Components Incorporated (NASDAQ:TAIT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,180 shares of the company’s stock, valued at approximately $25,000. Susquehanna International Group LLP owned about 0.17% of Taitron Components at the end of the most recent reporting period. 18.09% of the stock is owned by hedge funds and other institutional investors.

Taitron Components Company Profile

Taitron Components, Inc is a distributor of electronic components serving original equipment manufacturers (OEMs) and contract manufacturers. The company offers a broad range of passive, active and electromechanical components, including capacitors, resistors, inductors, connectors and circuit protection devices, as well as semiconductors, diodes, transistors and optoelectronic products.

In addition to its standard distribution services, Taitron provides value-added offerings such as inventory management, consignment programs, kitting, testing and drop-ship services.