Taitron Components (NASDAQ:TAIT) Shares Cross Below 200-Day Moving Average – What’s Next?

Taitron Components Incorporated (NASDAQ:TAIT) passed 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.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Taitron Components in a research report on Wednesday, May 21st. They issued a “hold” rating on the stock.

Taitron Components Price Performance

The stock has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $2.46. The stock has a market cap of $13.24 million, a P/E ratio of 9.56 and a beta of 0.38.

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

Taitron Components Announces Dividend

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

Hedge Funds Weigh In On Taitron Components

An institutional investor recently bought a new position in Taitron Components stock. Soltis Investment Advisors LLC purchased a new stake in Taitron Components Incorporated (NASDAQ:TAIT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned 0.36% of Taitron Components as of its most recent filing with the Securities & Exchange Commission. 18.09% of the stock is currently 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.