Short Interest in Deswell Industries, Inc. (NASDAQ:DSWL) Drops By 73.7%

Deswell Industries, Inc. (NASDAQ:DSWL) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 412 shares, a decline of 73.7% from the March 31st total of 1,567 shares. Based on an average daily volume of 12,914 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Trading of Deswell Industries

An institutional investor recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC purchased a new stake in shares of Deswell Industries, Inc. (NASDAQ:DSWL) in the 4th quarter, according to its most recent Form 13F filing 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 comprises about 1.9% of Royal Palms Capital LLC’s holdings, making the stock its 24th biggest position. Royal Palms Capital LLC owned about 2.89% of Deswell Industries at the end of the most recent reporting period.

Deswell Industries Price Performance

Shares of DSWL stock traded up $0.02 during mid-day trading on Friday, hitting $3.33. The company had a trading volume of 6,205 shares, compared to its average volume of 11,968. Deswell Industries has a 52-week low of $1.93 and a 52-week high of $4.48. The stock’s 50 day moving average price is $3.33 and its 200-day moving average price is $3.44. The company has a market capitalization of $53.06 million, a P/E ratio of 6.94 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Deswell Industries in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Deswell Industries Company Profile

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.