Short Interest in Bel Fuse Inc. (NASDAQ:BELFB) Decreases By 8.9%

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

Bel Fuse Stock Performance

BELFB stock traded down $1.61 during mid-day trading on Friday, reaching $74.56. 53,201 shares of the stock traded hands, compared to its average volume of 77,708. Bel Fuse has a 52 week low of $45.74 and a 52 week high of $85.91. 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 firm has a market capitalization of $935.67 million, a PE ratio of 17.10 and a beta of 1.35. The business has a 50-day moving average of $77.64 and a two-hundred day moving average of $69.87.

Bel Fuse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid 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 yield of 0.38%. Bel Fuse's dividend payout ratio is 6.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BELFB. BNP Paribas Financial Markets increased its position in Bel Fuse by 10.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker's stock valued at $172,000 after acquiring an additional 200 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in Bel Fuse in the 2nd quarter worth approximately $25,000. nVerses Capital LLC bought a new position in Bel Fuse in the 3rd quarter valued at $39,000. Comerica Bank boosted its holdings in Bel Fuse by 223.7% in the first quarter. Comerica Bank now owns 738 shares of the electronics maker's stock valued at $45,000 after acquiring an additional 510 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Bel Fuse by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker's stock valued at $1,094,000 after purchasing an additional 787 shares during the period. 58.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Northland Securities raised their target price on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. StockNews.com downgraded Bel Fuse from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 2nd. Northland Capmk raised shares of Bel Fuse from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC lifted their target price on shares of Bel Fuse from $68.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, July 26th.

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.