Deswell Industries, Inc. (NASDAQ:DSWL) Sees Large Decline in Short Interest

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 9,400 shares, a drop of 41.5% from the January 15th total of 16,070 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 20,650 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 20,650 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

Deswell Industries Price Performance

DSWL traded up $0.20 on Friday, reaching $3.70. 13,235 shares of the stock were exchanged, compared to its average volume of 12,621. The company’s 50-day moving average price is $3.44 and its 200 day moving average price is $3.57. The firm has a market capitalization of $58.98 million, a PE ratio of 7.71 and a beta of 0.57. Deswell Industries has a fifty-two week low of $1.93 and a fifty-two week 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 acquired a new stake in Deswell Industries, Inc. (NASDAQ:DSWL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises about 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th largest position. Royal Palms Capital LLC owned about 2.89% of Deswell Industries at the end of the most recent quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Deswell Industries in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

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.