Deswell Industries, Inc. (NASDAQ:DSWL) Short Interest Up 89.8% in May

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 4,210 shares, an increase of 89.8% from the April 30th total of 2,218 shares. Based on an average daily trading volume, of 8,300 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

Deswell Industries Stock Performance

Shares of Deswell Industries stock opened at $3.35 on Thursday. The business has a 50-day simple moving average of $3.28 and a 200-day simple moving average of $3.41. The company has a market cap of $53.40 million, a PE ratio of 6.98 and a beta of 0.66. Deswell Industries has a one year low of $2.26 and a one year high of $4.48.

Hedge Funds 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) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries makes up approximately 1.9% of Royal Palms Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC owned about 2.89% of Deswell Industries as of its most recent SEC filing.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Deswell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.