Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 324,200 shares, an increase of 5.6% from the December 31st total of 307,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 68,500 shares, the days-to-cover ratio is currently 4.7 days.
Insider Buying and Selling at Bel Fuse
In other news, insider Stephen Dawson sold 1,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $77.65, for a total value of $116,475.00. Following the completion of the transaction, the insider now owns 14,832 shares in the company, valued at $1,151,704.80. This trade represents a 9.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph Francis Berry sold 1,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.30, for a total transaction of $80,300.00. Following the transaction, the vice president now owns 8,023 shares in the company, valued at $644,246.90. The trade was a 11.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.37% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bel Fuse
A number of institutional investors have recently modified their holdings of BELFB. nVerses Capital LLC acquired a new stake in shares of Bel Fuse during the third quarter worth $39,000. BNP Paribas Financial Markets lifted its position 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 buying an additional 200 shares in the last quarter. SG Americas Securities LLC bought a new position in Bel Fuse in the third quarter valued at approximately $200,000. One Wealth Advisors LLC bought a new stake in Bel Fuse during the third quarter worth $227,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Bel Fuse during the 3rd quarter worth approximately $288,000. Institutional investors own 58.39% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on BELFB. StockNews.com cut shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 29th. Needham & Company LLC raised their price objective on Bel Fuse from $79.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Finally, Oppenheimer initiated coverage on shares of Bel Fuse in a research report on Tuesday, December 17th. They set an "outperform" rating and a $105.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bel Fuse presently has an average rating of "Buy" and a consensus target price of $98.33.
View Our Latest Research Report on Bel Fuse
Bel Fuse Stock Up 1.2 %
BELFB stock traded up $1.00 during midday trading on Thursday, reaching $81.15. The company had a trading volume of 70,388 shares, compared to its average volume of 83,170. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16. Bel Fuse has a 1 year low of $45.74 and a 1 year high of $92.61. The company has a 50 day moving average of $82.04 and a two-hundred day moving average of $76.33. The company has a market capitalization of $1.02 billion, a P/E ratio of 18.61, a PEG ratio of 0.96 and a beta of 1.28.
About Bel Fuse
(
Get Free Report)
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.
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