Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Grows By 29.6%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,900,000 shares, a growth of 29.6% from the August 15th total of 3,010,000 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is presently 2.5 days.

Cellebrite DI Stock Performance

Shares of CLBT stock traded up $0.55 on Friday, hitting $17.51. The company’s stock had a trading volume of 741,596 shares, compared to its average volume of 1,358,013. Cellebrite DI has a fifty-two week low of $6.36 and a fifty-two week high of $17.54. The company has a market capitalization of $3.61 billion, a PE ratio of -30.19, a PEG ratio of 2.33 and a beta of 1.52. The stock’s 50 day moving average is $14.59 and its 200-day moving average is $12.48.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $91.94 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, research analysts forecast that Cellebrite DI will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares in the last quarter. Parallel Advisors LLC increased its holdings in Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares during the period. Quarry LP bought a new position in Cellebrite DI in the 4th quarter valued at about $36,000. California State Teachers Retirement System raised its position in shares of Cellebrite DI by 9.1% in the 1st quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock valued at $631,000 after buying an additional 4,734 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Cellebrite DI by 28.7% during the 1st quarter. Lazard Asset Management LLC now owns 21,697 shares of the company’s stock worth $240,000 after acquiring an additional 4,842 shares during the period. Institutional investors own 45.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Craig Hallum raised their target price on shares of Cellebrite DI from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC lifted their target price on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Lake Street Capital increased their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI presently has a consensus rating of “Buy” and a consensus price target of $17.33.

Cellebrite DI Company Profile

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.