Taitron Components (NASDAQ:TAIT) Stock Passes Below 200 Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.46 and traded as low as $2.17. Taitron Components shares last traded at $2.20, with a volume of 4,529 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of Taitron Components in a research report on Wednesday, May 21st. They set a “hold” rating for the company.

Taitron Components Stock Down 1.8%

The stock has a market capitalization of $13.24 million, a price-to-earnings ratio of 9.56 and a beta of 0.37. The company’s 50-day moving average is $2.21 and its 200-day moving average is $2.46.

Taitron Components (NASDAQ:TAIT) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter. Taitron Components had a return on equity of 7.87% and a net margin of 30.95%. The firm had revenue of $1.08 million for the quarter.

Taitron Components Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 9.10%. The ex-dividend date was Friday, May 16th. Taitron Components’s payout ratio is currently 86.96%.

Institutional Investors Weigh In On Taitron Components

A hedge fund recently bought a new stake in Taitron Components stock. Soltis Investment Advisors LLC purchased a new stake in shares of Taitron Components Incorporated (NASDAQ:TAIT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned about 0.36% of Taitron Components at the end of the most recent reporting period. 18.09% of the stock is currently owned by hedge funds and other institutional investors.

About Taitron Components

Taitron Components Incorporated engages in the supply of original designed and manufactured (ODM) electronic components, and distribution of brand name electronic components. It distributes discrete semiconductors, commodity integrated circuits, optoelectronic devices, and passive components. The company also offers value-added engineering and turn-key solutions focusing on providing contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs) with ODM products for their turn-key projects.