Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Decreases By 58.5%

by · The Markets Daily

Cellebrite DI Ltd. (NASDAQ:CLBT – Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,350,000 shares, a decrease of 58.5% from the September 15th total of 3,250,000 shares. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 1.0 days. Approximately 2.2% of the company’s stock are short sold.

Analyst Ratings Changes

CLBT has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Lake Street Capital upped their target price on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Craig Hallum upped their price objective on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Needham & Company LLC lifted their target price on Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.57.

Read Our Latest Report on CLBT

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLBT. Juncture Wealth Strategies LLC raised its holdings in shares of Cellebrite DI by 42.2% during the third quarter. Juncture Wealth Strategies LLC now owns 59,498 shares of the company’s stock valued at $1,002,000 after buying an additional 17,652 shares during the last quarter. Strategic Advisors LLC acquired a new stake in Cellebrite DI in the 3rd quarter valued at approximately $474,000. Point72 Asia Singapore Pte. Ltd. increased its position in Cellebrite DI by 59.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares during the period. Scalar Gauge Management LLC raised its stake in Cellebrite DI by 15.2% during the 2nd quarter. Scalar Gauge Management LLC now owns 453,554 shares of the company’s stock valued at $5,420,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Apis Capital Advisors LLC boosted its position in Cellebrite DI by 22.3% during the 2nd quarter. Apis Capital Advisors LLC now owns 274,000 shares of the company’s stock worth $3,274,000 after acquiring an additional 50,000 shares during the period. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded up $0.32 on Friday, reaching $18.06. 1,546,542 shares of the company were exchanged, compared to its average volume of 1,032,851. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -34.07, a P/E/G ratio of 2.44 and a beta of 1.52. Cellebrite DI has a 1-year low of $6.36 and a 1-year high of $18.73. The company’s 50-day moving average is $16.39 and its two-hundred day moving average is $13.25.

Cellebrite DI (NASDAQ:CLBT – Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $91.94 million. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cellebrite DI will post 0.31 earnings per share for the current year.

Cellebrite DI Company Profile

(Get Free Report)

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.

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