Deswell Industries, Inc. (NASDAQ:DSWL) Sees Significant Increase in Short Interest

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 5,505 shares, an increase of 897.3% from the June 15th total of 552 shares. Based on an average daily volume of 24,806 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Deswell Industries

An institutional investor recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC bought a new position in Deswell Industries, Inc. (NASDAQ:DSWL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises approximately 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC owned 2.89% of Deswell Industries at the end of the most recent reporting period.

Deswell Industries Price Performance

Shares of NASDAQ:DSWL opened at $3.56 on Friday. The firm has a fifty day moving average price of $3.44 and a two-hundred day moving average price of $3.41. The company 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 one year low of $2.75 and a one year high of $4.48.

Deswell Industries Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, July 16th. Investors 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 currently 41.67%.

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.