Bel Fuse Inc. (NASDAQ:BELFB) Sees Significant Decrease in Short Interest

Bel Fuse Inc. (NASDAQ:BELFB) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 294,400 shares, a decline of 8.9% from the October 15th total of 323,300 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 68,300 shares, the short-interest ratio is presently 4.3 days.

Institutional Trading of Bel Fuse

Several large investors have recently bought and sold shares of BELFB. Beach Investment Counsel Inc. PA acquired a new stake in Bel Fuse during the 2nd quarter valued at $25,000. nVerses Capital LLC acquired a new position in shares of Bel Fuse in the third quarter worth about $39,000. Comerica Bank grew its stake in Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 510 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Bel Fuse by 10.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker’s stock worth $172,000 after purchasing an additional 200 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Bel Fuse in the 3rd quarter valued at approximately $200,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Trading Down 2.1 %

Shares of Bel Fuse stock traded down $1.61 during trading hours on Friday, hitting $74.56. The company’s stock had a trading volume of 53,201 shares, compared to its average volume of 77,708. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $935.67 million, a PE ratio of 17.10 and a beta of 1.35. The business has a fifty day moving average of $77.64 and a 200 day moving average of $69.87. Bel Fuse has a 1-year low of $45.74 and a 1-year high of $85.91.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. Bel Fuse’s payout ratio is currently 6.42%.

Analyst Ratings Changes

Several research firms have recently commented on BELFB. Needham & Company LLC increased their price target on shares of Bel Fuse from $68.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com cut Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. Finally, Northland Securities increased their price objective on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.