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Aug 10, 2023Bel Fuse Downgraded to "Buy" Rating
Bel Fuse (NASDAQ:BELFB) has been downgraded by StockNews.com analysts from a “strong-buy” rating to a “buy” rating in a research report released on Friday.
Bel Fuse opened at $50.24 on Friday and has a market capitalization of $641.56 million. The company has a price-to-earnings ratio of 8.66 and a beta of 1.72. Its 52-week low is $24.00 and its 52-week high is $63.18. Bel Fuse has a fifty-day moving average of $56.15 and a 200-day moving average of $44.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.55, and a current ratio of 2.79.
In other news, Director Peter E. Gilbert sold 5,000 shares of Bel Fuse stock in a transaction dated May 11th. The stock was sold at an average price of $44.59, resulting in a total value of $222,950. After the transaction, the director now owns 18,750 shares in the company, valued at $836,062.50.
Several large investors have recently modified their holdings of Bel Fuse stock. Lazard Asset Management LLC increased its holdings by 1,481.9% during the 1st quarter. Belpointe Asset Management LLC purchased a new position in the 1st quarter, while UBS Group AG increased its holdings during the same period. Citigroup Inc. also purchased a new position during the 1st quarter, and Strs Ohio acquired a new position in the 2nd quarter. Hedge funds and other institutional investors now own 52.00% of Bel Fuse’s stock.
Bel Fuse Inc designs, manufactures, and sells products for various industries including networking, telecommunications, computing, industrial, data transmission, military, aerospace, transportation, and e-Mobility sectors. The company operates in the United States, China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.