Taitron Components (NASDAQ:TAIT) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.12 and traded as low as $1.17. Taitron Components shares last traded at $1.18, with a volume of 7,919 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Taitron Components in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Taitron Components presently has a consensus rating of “Sell”.

Taitron Components Stock Down 1.7%

The firm has a market capitalization of $7.10 million, a PE ratio of -7.38 and a beta of 0.46. The business has a 50-day moving average price of $1.82 and a 200-day moving average price of $2.12.

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

Taitron Components Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Friday, November 14th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 11.9%. Taitron Components’s dividend payout ratio is currently -87.50%.

Hedge Funds Weigh In On Taitron Components

An institutional investor recently bought a new position in Taitron Components stock. Virtu Financial LLC purchased a new stake in Taitron Components Incorporated (NASDAQ:TAIT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 17,312 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned 0.29% of Taitron Components at the end of the most recent reporting period. 18.09% of the stock is owned by 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.