Short Interest in Taitron Components Inc. (NASDAQ:TAIT) Grows By 22.3%

Taitron Components Inc. (NASDAQ:TAIT) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 23,000 shares, a growth of 22.3% from the September 15th total of 18,800 shares. Based on an average daily volume of 23,300 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.7% of the company’s stock are sold short.

NASDAQ:TAIT opened at $2.55 on Tuesday. The business’s 50-day moving average is $2.77 and its two-hundred day moving average is $3.23. Taitron Components has a 12 month low of $1.53 and a 12 month high of $7.65. The firm has a market capitalization of $14.78 million, a PE ratio of 11.17 and a beta of 1.68.

Taitron Components (NASDAQ:TAIT) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.04 EPS for the quarter. Taitron Components had a return on equity of 3.25% and a net margin of 17.96%. The company had revenue of $1.77 million for the quarter.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Taitron Components by 983.4% in the second quarter. BlackRock Inc. now owns 8,667 shares of the company’s stock valued at $28,000 after purchasing an additional 7,867 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Taitron Components in the second quarter valued at about $59,000. Jane Street Group LLC purchased a new position in Taitron Components in the second quarter valued at about $128,000. Finally, Renaissance Technologies LLC raised its position in Taitron Components by 90.2% in the second quarter. Renaissance Technologies LLC now owns 286,996 shares of the company’s stock valued at $918,000 after purchasing an additional 136,106 shares during the period. 15.35% of the stock is currently owned by institutional investors.

Taitron Components Company Profile

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, passive components, transistors, and diodes.

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