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Sep 02, 2023

Bel Fuse Inc. (NASDAQ:BELFA) Short Interest Up 83.3% in April

Bel Fuse Inc. (NASDAQ:BELFA - Get Rating) was the recipient of a significant

Bel Fuse Inc. (NASDAQ:BELFA - Get Rating) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 31,900 shares, a growth of 83.3% from the April 15th total of 17,400 shares. Based on an average daily volume of 4,300 shares, the short-interest ratio is presently 7.4 days. Currently, 2.1% of the shares of the stock are sold short.

Shares of Bel Fuse stock opened at $44.70 on Thursday. The company has a current ratio of 2.95, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $571.44 million, a price-to-earnings ratio of 9.47 and a beta of 1.69. Bel Fuse has a 1-year low of $20.94 and a 1-year high of $45.14. The firm's 50-day moving average price is $36.48 and its two-hundred day moving average price is $35.73.

Bel Fuse (NASDAQ:BELFA - Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The scientific and technical instruments company reported $1.27 EPS for the quarter. Bel Fuse had a net margin of 9.02% and a return on equity of 28.35%. The business had revenue of $169.20 million for the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 14th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.24 annualized dividend and a yield of 0.54%. Bel Fuse's dividend payout ratio is currently 5.08%.

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Bel Fuse by 514.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,033 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 865 shares during the period. Morgan Stanley raised its holdings in Bel Fuse by 40.6% in the fourth quarter. Morgan Stanley now owns 1,784 shares of the scientific and technical instruments company's stock worth $56,000 after purchasing an additional 515 shares during the period. Manchester Capital Management LLC acquired a new stake in Bel Fuse in the first quarter worth $101,000. Horizon Kinetics Asset Management LLC acquired a new stake in Bel Fuse in the third quarter worth $215,000. Finally, Renaissance Technologies LLC raised its holdings in Bel Fuse by 2.5% in the second quarter. Renaissance Technologies LLC now owns 24,400 shares of the scientific and technical instruments company's stock worth $525,000 after purchasing an additional 600 shares during the period. 5.64% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse, Inc engages in the design, manufacture, and marketing of products that power, protect, and connect electronic circuits. It operates through the following segments: Cinch Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions, and Corporate. The company was founded by Elliot Bernstein in 1949 and is headquartered in Jersey City, NJ.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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