Taitron Components (NASDAQ:TAIT) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.08 and traded as low as $1.12. Taitron Components shares last traded at $1.2034, with a volume of 20,508 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Taitron Components in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Taitron Components Stock Performance

The stock has a market cap of $7.25 million, a P/E ratio of -7.52 and a beta of 0.46. The company has a 50-day simple moving average of $1.66 and a 200-day simple moving average of $2.08.

Taitron Components (NASDAQ:TAIT) last announced its earnings results on Friday, November 14th. The company reported ($0.01) earnings per share for the quarter. Taitron Components had a negative net margin of 27.42% and a negative return on equity of 6.18%. The business had revenue of $0.53 million during the quarter.

Taitron Components Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 11.6%. Taitron Components’s payout ratio is currently -87.50%.

Institutional Trading of Taitron Components

An institutional investor recently bought a new position in Taitron Components stock. Virtu Financial LLC acquired a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,312 shares of the company’s stock, valued at approximately $43,000. Virtu Financial LLC owned approximately 0.29% of Taitron Components as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 18.09% of the company’s stock.

Taitron Components Company Profile

Taitron Components, Inc is a distributor of electronic components serving original equipment manufacturers (OEMs) and contract manufacturers. The company offers a broad range of passive, active and electromechanical components, including capacitors, resistors, inductors, connectors and circuit protection devices, as well as semiconductors, diodes, transistors and optoelectronic products.

In addition to its standard distribution services, Taitron provides value-added offerings such as inventory management, consignment programs, kitting, testing and drop-ship services.