Bel Fuse (NASDAQ:BELFA) Shares Gap Down – Here’s Why

Shares of Bel Fuse Inc. (NASDAQ:BELFA) gapped down before the market opened on Wednesday . The stock had previously closed at $237.00, but opened at $214.54. Bel Fuse shares last traded at $215.6220, with a volume of 3,755 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $250.00.

Bel Fuse Stock Up 2.6%

The firm has a 50-day moving average of $250.19 and a two-hundred day moving average of $213.96. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2.88 billion, a PE ratio of 54.56 and a beta of 1.37.

Bel Fuse (NASDAQ:BELFA) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.The company had revenue of $178.49 million for the quarter, compared to the consensus estimate of $172.07 million.

Bel Fuse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Bel Fuse’s payout ratio is 5.78%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Bel Fuse by 92.2% during the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 153 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Bel Fuse by 6,000.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock valued at $55,000 after acquiring an additional 300 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Bel Fuse in the 4th quarter worth approximately $61,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 608 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Bel Fuse during the 4th quarter worth approximately $111,000. Institutional investors and hedge funds own 6.01% of the company’s stock.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.