Bel Fuse Inc. (NASDAQ:BELFB) Short Interest Down 8.9% in October

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

Wall Street Analysts Forecast Growth

BELFB has been the subject of a number of research reports. StockNews.com cut Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Northland Securities increased their price target on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC boosted their target price on shares of Bel Fuse from $79.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Northland Capmk raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Bel Fuse Stock Down 2.4 %

Bel Fuse stock opened at $72.79 on Tuesday. The company has a 50-day simple moving average of $77.64 and a 200-day simple moving average of $69.95. Bel Fuse has a one year low of $45.74 and a one year high of $85.91. The firm has a market capitalization of $913.51 million, a P/E ratio of 16.69 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00.

Bel Fuse Dividend Announcement

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

Institutional Trading of Bel Fuse

A number of institutional investors have recently made changes to their positions in BELFB. BNP Paribas Financial Markets boosted its holdings in Bel Fuse by 73.5% during the first quarter. BNP Paribas Financial Markets now owns 5,862 shares of the electronics maker’s stock worth $354,000 after buying an additional 2,484 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Bel Fuse in the first quarter valued at about $1,532,000. Roubaix Capital LLC acquired a new position in Bel Fuse in the first quarter worth approximately $2,803,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Bel Fuse during the 1st quarter worth $3,619,000. Finally, Truvestments Capital LLC bought a new position in Bel Fuse during the first quarter valued at about $407,000. 58.39% of the stock is owned by institutional investors and hedge funds.

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.