Taitron Components (NASDAQ:TAIT) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Taitron Components Incorporated (NASDAQ:TAIT)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.69 and traded as low as $2.53. Taitron Components shares last traded at $2.54, with a volume of 2,433 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Taitron Components in a report on Wednesday. They issued a “hold” rating for the company.

Taitron Components Stock Performance

The business’s 50-day moving average is $2.58 and its two-hundred day moving average is $2.69. The firm has a market capitalization of $15.53 million, a price-to-earnings ratio of 11.22 and a beta of 0.43.

Taitron Components Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date was Friday, February 14th. Taitron Components’s dividend payout ratio is currently 86.96%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Taitron Components stock. Soltis Investment Advisors LLC bought a new position in shares of Taitron Components Incorporated (NASDAQ:TAIT) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 21,622 shares of the company’s stock, valued at approximately $56,000. Soltis Investment Advisors LLC owned approximately 0.36% of Taitron Components at the end of the most recent quarter. Institutional investors and hedge funds 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.