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

Deswell Industries, Inc. (NASDAQ:DSWL) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 552 shares, a growth of 348.8% from the May 31st total of 123 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 6,494 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Deswell Industries

A hedge fund recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC purchased a new position in shares of Deswell Industries, Inc. (NASDAQ:DSWL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries makes up about 1.9% of Royal Palms Capital LLC’s holdings, making the stock its 24th largest holding. Royal Palms Capital LLC owned 2.89% of Deswell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Deswell Industries Price Performance

NASDAQ:DSWL traded up $0.10 during trading hours on Friday, reaching $3.77. The company had a trading volume of 9,395 shares, compared to its average volume of 11,674. Deswell Industries has a 1-year low of $2.45 and a 1-year high of $4.48. The firm has a market cap of $60.07 million, a PE ratio of 7.85 and a beta of 0.66. The business’s 50 day moving average price is $3.39 and its 200-day moving average price is $3.39.

Deswell Industries Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, July 2nd. Deswell Industries’s payout ratio is 41.67%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company 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.