Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Update

Richardson Electronics, Ltd. (NASDAQ:RELL) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 17,000 shares, a growth of 63.5% from the May 30th total of 10,400 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is presently 0.7 days.

A number of institutional investors and hedge funds have recently modified their holdings of RELL. Alambic Investment Management L.P. bought a new position in Richardson Electronics during the first quarter valued at approximately $239,000. Granite Investment Partners LLC bought a new position in Richardson Electronics during the first quarter valued at approximately $332,000. First Wilshire Securities Management Inc. bought a new position in Richardson Electronics during the fourth quarter valued at approximately $440,000. Ancora Advisors LLC raised its position in Richardson Electronics by 2.3% during the fourth quarter. Ancora Advisors LLC now owns 227,692 shares of the technology company’s stock valued at $1,979,000 after acquiring an additional 5,030 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Richardson Electronics by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 917,982 shares of the technology company’s stock valued at $7,977,000 after acquiring an additional 7,248 shares in the last quarter. 44.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ RELL traded up $0.05 during mid-day trading on Friday, reaching $5.57. The company had a trading volume of 1,052 shares, compared to its average volume of 22,002. The business has a fifty day simple moving average of $5.32. The stock has a market capitalization of $71.79 million, a P/E ratio of 55.00 and a beta of 0.37. Richardson Electronics has a 12-month low of $5.00 and a 12-month high of $10.40.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Tuesday, April 9th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The company had revenue of $39.02 million during the quarter. Richardson Electronics had a return on equity of 0.97% and a net margin of 0.46%.

About Richardson Electronics

Richardson Electronics, Ltd. engages in power and microwave technologies, customized display solutions, and healthcare equipment businesses in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; high value flat panel detector solutions, replacement parts, tubes and service training for diagnostic imaging equipment; and customized display solutions, as well as power conversion and RF and microwave components for broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology applications.

Recommended Story: Hold Rating

Receive News & Ratings for Richardson Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richardson Electronics and related companies with MarketBeat.com's FREE daily email newsletter.