Taitron Components (NASDAQ:TAIT) Shares Cross Below 200 Day Moving Average of $3.16

Taitron Components Incorporated (NASDAQ:TAIT) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.16 and traded as low as $2.62. Taitron Components shares last traded at $2.66, with a volume of 19,006 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Taitron Components in a research report on Thursday. They issued a “hold” rating on the stock.

Taitron Components Stock Performance

The stock has a market capitalization of $16.01 million, a P/E ratio of 9.50 and a beta of 0.54. The stock has a 50-day simple moving average of $2.96 and a 200 day simple moving average of $3.16.

Taitron Components (NASDAQ:TAIT) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter. Taitron Components had a return on equity of 9.65% and a net margin of 32.80%. The business had revenue of $0.96 million for the quarter.

Taitron Components Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.05 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.20 annualized dividend and a dividend yield of 7.52%. Taitron Components’s dividend payout ratio is currently 71.43%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Taitron Components stock. Significant Wealth Partners LLC bought a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 182,601 shares of the company’s stock, valued at approximately $637,000. Significant Wealth Partners LLC owned approximately 3.03% of Taitron Components at the end of the most recent quarter. Hedge funds and other institutional investors own 18.09% of the company’s stock.

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.